Moeco is a blockchain-powered internet of things (IoT) platform that promises to create unlimited global IoT connectivity. Find out how it works today in our review.
What is Moeco?
Moeco, found online at Moeco.io, is a wireless and secure IoT data routing platform compatible with popular IoT technologies like LPWAN and Bluetooth LE (i.e. “last mile” technologies).
The goal of Moeco is to create the most transparent and secure IoT infrastructure system. With Moeco, anyone can become a provider by solving two main problems – billing and security – while preserving market transparency.
The end result is a network where anyone can create IoT nodes. This can lead to the creation of smart cities. Ski resorts could setup their own network to track guests more efficiently – say, when they wander into the backcountry. Cities can manage traffic intelligently at a fraction of the cost of GPS tracking, 2G, and 3G technologies.
Moeco is currently in closed alpha testing, with a pilot program rolling out in Hong Kong, London, and Barcelona over the coming months.
How Does Moeco Work?
Moeco consists of four layers. This four-layer architecture helps Moeco integrate into existing networks while also being adaptable for use in future networks. The four layers serve as a mid-layer for interaction. Layers include:
- IoT Devices
- Moeco Platform
The ecosystem revolves around the use of MOE tokens.
Overall, Moeco aims to be a superior option to current platforms used in the IoT industry (like 2G and 3G). These technologies have high range and battery life, but they also have high deployment costs, a lack of self-deployment options, and a lack of open source development opportunities. Moeco, on the other hand, aims to provide multiple last mile protocols through a decentralized, open source environment.
Moeco is currently launching a pilot to provide the best city-wide IoT connectivity. That pilot deployment will take place in Hong Kong, London, and Barcelona. The goal is to demonstrate “the potential of the network and turn it into the most effective IoT-enabled cities in the world.”
The ultimate goal is to create a global network of cells that “uberize” IoT connectivity. It puts IoT networks in the hands of users around the world, allowing for increased scalability of IoT networks at a lower cost.
Moeco emphasizes all of the following features:
Global: No central party needs to be trusted in the Moeco ecosystem, which makes Moeco a global platform.
Decentralized: As the Moeco website explains, “blockchain technology enables secure environments where no central party needs to be trusted more than others.” It’s a truly decentralized ecosystem.
Power and Investment Efficiency: Moeco emphasizes efficiency in terms of both investments and power. They claim to offer low installation costs and 3 to 50x battery life advantages over traditional GSM/3G/4G networks.
End-to-End M2M Encryption: Moeco offers top of the line security with industry-leading encryption.
Open Source Hardware: Anyone can build Moeco-compliant base stations by following the specifications laid out by developers.
Scalable: Moeco can be used on existing networks or new installations using a mix of RF standards.
Moeco LR Toolkit: Moeco has an LR Toolkit designed for industrial and business applications where speed and reliability are the prime concerns. As an example of how this might work, Moeco lists an example where a city is creating a smart transportation system.
Moeco BLE Toolkit: The Moeco BLE Toolkit is a solution for big data applications where data can be collected for later analysis. The toolkit includes an open source beacon base station where smartphones act as mobile gateways.
Who’s Behind Moeco?
Moeco is led by Mit Gorilovsky (founder and CEO), Salome Parulava (co-founder), Stephen Chase (head of marketing), and Alex Korolkov (CTO).
In November 2017, The Bitfury Group, the world’s largest full-service blockchain technology company, announced that it was investing $5 million into Moeco. Moeco will use Bitfury’s Exonum as part of its project. Exonum is a platform designed for businesses to move, manage, and secure data and assets.
Use Cases for Moeco
Overall, Moeco wants to open new business opportunities based on IoT networks around the world. Those business opportunities will include a number of uses cases, including all of the following use cases identified in the Moeco whitepaper:
LPWAN use cases include a ski resort. A ski resort could use Moeco’s network to enhance safety. Right now, ski resorts struggle to locate injured people in the backcountry. With Moeco, any resort, trail park, or natural attraction can afford to purchase a few base stations and achieve coverage over their entire active area. At this point, ski resorts can provide free or paid emergency rescue boxes to clients. The boxes contain a chip that connects to any gateway anywhere.
A factory, a city, or even a household could install a measurement device that sends all data instantly to the Moeco ecosystem. This data can help the organization manage water more efficiently or automate resource usage.
Smart Traffic Flows:
Cities depend on smart traffic flow. However, traffic control systems aren’t automated. Moeco can use ultra-low power sensors and base stations to provide a large coverage area, which ensures that traffic flows in the most efficient way. With the Moeco network, traffic lights can “talk” to each other, with every car on the road accounted for.
Farmers and ranchers struggle to keep track of all of the animals on their land – especially in northern territories where animals like reindeer roam free. Using GPS trackers for this task is expensive and inefficient. Moeco, on the other hand, allows ranchers to install a chip (at the cost of about $1) into animals, then setup several base stations on their land. This makes herding more efficient while reducing losses.
Some of the biggest opportunities for Moeco could be in the creation of smart cities. Moeco aims to establish a solid infrastructure based on OEM Moeco solutions. By setting up nodes across the city, Moeco’s network could enable 100% coverage at a minimal cost compared to existing 2G and 3G systems.
Moeco aims to create a global network of cells enabling users to integrate existing IoT networks or deploy new ones to become their own in-house service provider.
A closed alpha for Moeco is taking place in Q3/Q4 2017, with further testing and pilots taking place throughout 2018. Moeco has scheduled a market release for Q1 2019.
You can learn more about Moeco online today at Moeco.io.