What Is Augmate?
Augmate is the first IoT (Internet of Things) device management platform using distributed ledger technology created by wearable device management company and gartner cool vendor, Augmate. Augmate was founded in 2014 in New York City as a B2B enterprise company specializing in wearable device management and security.
Internet of Things is the network of physical devices, home appliances, vehicles and other electronic devices enabling these objects to connect with each other and exchange data. It is estimated that IoT will consist of 30 billion objects by 2020 and the IoT market has a potential value of $15 trillion by 2030.
With a rapid rate of innovation, privacy and data are compromised to varying degrees. Augmate Connect proposes a scalable solution, a distributed ledger device layer using smart contracts aimed at creating a secure ecosystem for device connectivity.
Augmate's bold mission statement is, ‘to be the world’s premiere IOT solution provider for device management including and integrating data exchange, usage, analysis, decision making, artificial intelligence, management, human advancement and future uses. All while providing the ultimate in security and speed to accessibility.
“In the next few years, there will be 50+ billion IoT devices on the market, and managing device security in a scalable model will be of utmost importance for both enterprises and individuals. We believe that distributed ledger technology is the future of IoT device security, and we’re developing Augmate Connect to power a global ecosystem of device and human connectivity” said Pete Wassell, CEO of Augmate.
As a blockchain-agnostic platform, Augmate Connect will start by integrating IOTA Tangle, a blockless distributed ledger that allows transfer of value between devices without fees, as well as centralized portal management using advanced technology, heuristic analysis and machine learning for monitoring and predictive maintenance.
Augmate features include:
- Device identity and discovery capabilities
- Data visualization tools
- Device meta-data that can be searched, grouped, and sorted
- Device Fleet management
- Devices firmware updates
- User authentication, management and digital twin data
- Smart Contracts / Sharable DAPPS (decentralized apps)
- Decentralized tamper-proof ledger
- Blockchain bridges
- IoT platform plugins
- End to end security layer (256 bit encryption between end-points)
- Both M2M and M2H (Machine to Human) communication
The MATE is a utility token on the platform that tracks usage of Augmate Connect for device monitoring, subscriptions and services, and allows for service accounting for customers. MATEs will be used for rewards such as customer loyalty bonuses or aggregated, anonymized data access as well as for discounted coupon purchases and multi-year contracts.
The Augmate Team
- Pete Wassell – Founder & CEO
- Dana Farbo – COO
- Eddie Quiroz – CIO
- Bob Visnov – CTO
- Thomas Miller – CCO & CMO
Augmate ICO Details
The Augmate website doesn't say much about their ICO except that they have a private sale in progress and to contact them directly for more details.
Augmate is a fairly established company in wearable device management and security services. While it faces some strenuous competition in the IoT sector, there are as yet no competitors to have implemented the blockchain solution to IoT. This is definitely a project with boundless scope.