The Internet-of-Identities (IoI) Is The Backbone Of The Internet-of-Things (IoT)
The Internet of Things (IoT) is defined as the network of physical devices, vehicles, consumer electronics products, home appliances, machines, equipment, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables these things to connect with each other and exchange data. This creates the opportunity for a more direct integration of the physical world into computer-based systems, which results in efficiency improvements, economic benefits, and reduced human exertions.
The number of IoT devices increased 31% year-over-year to 8.4 billion in the year 2017 and it is estimated that there will be 30 billion devices by 2020. The global market value of IoT is projected to reach US$7.1 trillion by 2020.
IoT involves extending Internet connectivity beyond standard devices, such as desktops, laptops, smartphones and tablets, to any range of traditionally dumb or non-Internet-enabled physical devices and everyday objects. Embedded with technology, these devices can communicate and interact over the Internet, and they can be remotely monitored and controlled.
IoT runs on identity. In order for IoT to be possible, each device must have a digital identity. In other words, there must exist an Internet-of-Identities (IoI) in order for IoT to function. Tunity Technologies’ core purpose is to create that Internet-of-Identities through RFID and other advanced connectivity technologies to make it easier for our clients to benefit from IoT.