Iotex Partnership With CityDAO
The mission of MachineFi is simple: connecting the real world to Web3. MachineFi brings verifiable, trusted data from the physical world onto the blockchain to power an entire economy for humans and their machines to own, utilize, and monetize that data. CityDAO is the latest member of the MachineFi vision building this connected reality.
CityDAO is using IoTeX’s Pebble Tracker to track sensor data on the first piece of on-chain land. This collaboration is pioneering how real-world, tamper-proof data can power decentralized land ownership.
“Digitizing physical assets democratizes access, increases transparency, removes gatekeepers, and reduces complexity. Putting land on chain has several benefits: 1) Instant land transfers, reduced legal complexity; 2) Democratization of ownership through crowdfunding. Currently land is only available to large investors who can afford an entire parcel. 3) Open, transparent, programmable digital records” — CityDAO
CityDAO has become the first official DAO to own land. Wyoming is the first state to legally recognize DAOs (Decentralized Autonomous Organizations), which are community-led entities that operate collectively instead of having a centralized authority.
With CityDAO, parcels of land are digitized as NFTs that are owned and managed collectively by the community or by individuals. CityDAO envisions a future of decentralized governance with a network of on-chain assets to power smart cities.
CityDAO opens endless possibilities for the future of decentralized land ownership and how community-powered assets can be part of the MachineFi economy. The MachineFi portal is gearing up to welcome an entire suite of powerful DApps that provide opportunities for all users to own and monetize their data in a myriad of ways.
ABOUT IOTEX
IoTeX is the premier blockchain network on the market that brings the idealistic power of blockchain to devices, Dapps, and NFTs.
ABOUT CityDAO
CityDAO is building a network of assets on chain, starting with a single parcel of land in Wyoming. Each parcel of land is an NFT that can be owned collectively by the DAO collectively or by individuals. It is a DAO, or Decentralized Autonomous Organization, meaning it is managed by the community.
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