EOT - Encryption of Things
EOT – “Encryption of Things”, a UTILITY COIN with a strong use case.
EOT, a fully fledged, open source, decentralized cryptocurrency with blockchain and operational mining – a capped volume of 200 000 000.
EOT, a peer to peer payment system with new blocks being mined every 90 seconds thus ensuring fast and efficient transactions.
EOT was developed for the purpose of encrypting devices and applications connected to the internet, IoT, known as the “Internet of Things”.
IoT needs EOT
Blockchain – Encryption – Devices
What is IoT? “The Internet of Things is the network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, actuators, and network connectivity which enables these objects to connect and exchange data” Wikipedia.
It is estimated that around 30 Billion “Internet of Things” devices will be connected to the internet by 2020. The overall IoT market is projected to be worth more than one billion U.S. dollars annually from 2017 onwards. Gartner prediction is that 95% of all new products will contain IoT and that by 2022, half of the IoT Security spend will be on remediation. The three pillars of IoT are connectivity, data, and security.
IoT devices will need encryption otherwise they would attract the attention of hackers intent on cybercrime. Privacy, security, and encryption are a necessity to protect our digital footprint in our growing digital economy.
An Opportunity – As EOT is open source, entrepreneurs and businesses are able to integrate EOT into IoT devices and applications. The open source EOT Toolkit to enable this integration will be available on GitHub shortly.