# MachineFi, Web3, Blockchain, and the Future of IoT | IoTeX Network's Raullen Chai

- Show: [IoT For All Podcast](https://hardwarepodcasts.com/podcast/iot-for-all-podcast)
- Published: 2022-03-22
- Length: 22m
- Page: https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2022-03-22-machinefi-web3-blockchain-and-the-future-of-iot-iotex-networks-raullen-chai
- Listen: https://podcasters.spotify.com/pod/show/iot-for-all/episodes/MachineFi--Web3--Blockchain--and-the-Future-of-IoT--IoTeX-Networks-Raullen-Chai-e28bp67

## Summary

Raullen Chai, CEO and co-founder of IoTeX, explains the concept of MachineFi, which adds an economic layer to IoT by using blockchain to incentivize machine-to-machine interaction. He details how IoTeX’s hardware, such as a GPS tracker with 16 sensors, uses a secret chip and token incentives to verify data integrity and prevent spoofing in applications like fitness tracking. Chai also discusses the technical architecture, including their Layer 2 protocol, True Strength Processing, which handles off-chain computation while storing proofs on Layer 1, and outlines plans for a MachineFi marketplace to connect device makers with token developers.

## Chapters

- [1:54](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2022-03-22-machinefi-web3-blockchain-and-the-future-of-iot-iotex-networks-raullen-chai#t=114) Introduction: Raullen Chai and IoTeX Background
- [3:15](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2022-03-22-machinefi-web3-blockchain-and-the-future-of-iot-iotex-networks-raullen-chai#t=195) The Vision for MachineFi and the Economic Layer
- [6:48](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2022-03-22-machinefi-web3-blockchain-and-the-future-of-iot-iotex-networks-raullen-chai#t=408) Decentralized Hardware Funding and Incentives
- [10:03](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2022-03-22-machinefi-web3-blockchain-and-the-future-of-iot-iotex-networks-raullen-chai#t=603) IoTeX GPS Tracker and Fitness-to-Earn Use Cases
- [13:17](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2022-03-22-machinefi-web3-blockchain-and-the-future-of-iot-iotex-networks-raullen-chai#t=797) Security: Secret Chips and Anti-Spoofing Mechanisms
- [14:50](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2022-03-22-machinefi-web3-blockchain-and-the-future-of-iot-iotex-networks-raullen-chai#t=890) Data Privacy: Layer 2 Computation vs. Layer 1 Storage
- [16:56](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2022-03-22-machinefi-web3-blockchain-and-the-future-of-iot-iotex-networks-raullen-chai#t=1016) Hardware Integration: SDKs and APIs for Manufacturers
- [19:20](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2022-03-22-machinefi-web3-blockchain-and-the-future-of-iot-iotex-networks-raullen-chai#t=1160) Roadmap: Infrastructure, Partnerships, and MachineFi Marketplace

## Topics

- [Connected products & IoT](https://hardwarepodcasts.com/topic/connected-products-and-iot)
- [Security & privacy](https://hardwarepodcasts.com/topic/security-and-privacy)
- [Microcontrollers & dev platforms](https://hardwarepodcasts.com/topic/microcontrollers-and-platforms)
- [Crowdfunding & preorders](https://hardwarepodcasts.com/topic/crowdfunding)
- [Starting a product company](https://hardwarepodcasts.com/topic/starting-a-company)

## Most relevant to

companies scaling up

## Mentioned

- IoTeX (company)
- Uber (company)
- Google (company)
- Tesla (company)
- Crowd Supply (other)
- Raspberry Pi (product)
- IoTeX GPS Tracker (product)

## Related episodes from other shows

- [New Business Models in Manufacturing with Michael Cromheecke](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2019-11-18-new-business-models-in-manufacturing-with-michael-cromheecke) (Manufacturing Happy Hour)
- [Ep048: Truly Trustworthy Hardware, Glowing Uranium Marbles, Bitstreaming the USB, Chaos of Congress](https://hardwarepodcasts.com/podcast/hackaday-podcast/2020-01-01-ep048-truly-trustworthy-hardware-glowing-uranium-marbles-bitstreaming-the-usb-ch) (Hackaday Podcast)
- [Taming the Wild Edge](https://hardwarepodcasts.com/podcast/ee-times-current/2021-09-17-taming-the-wild-edge) (EE Times Current)
- [A Daring Space Rescue | PUF Protection | Reverse Costing](https://hardwarepodcasts.com/podcast/ee-times-current/2020-03-08-a-daring-space-rescue-puf-protection-reverse-costing) (EE Times Current)
- [Ep 225: Leafy Meats, Wind to Heat, and a Machine That's Neat](https://hardwarepodcasts.com/podcast/hackaday-podcast/2023-06-30-ep-225-leafy-meats-wind-to-heat-and-a-machine-thats-neat) (Hackaday Podcast)

## Citing this page

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