Internet of Payments

The Impact and Implications of Internet of Payments

Electronic payments, once the purview of a few companies, have expanded to include a variety of financial and technology companies. Internet of Payment (IoP) enables payment processing over many kinds of IoT devices and has also led to the emergence of the micro-transaction. The growth of independent payment services offering e-commerce solutions, such as Square, and the entry of new ways to pay, such as Apple Pay, mean that a variety of devices and technologies also have come into wide use. This is the topic that the SNIA Cloud Storage Technologies Initiative is going to examine at our live webcast on October 14, 2020 “Technology Implications of Internet of Payments.”

Along with the rise and dispersal of the payment eco-system, more of our assets that we exchange for payment are becoming digitized as well. When digital ownership is equivalent to physical ownership, security and scrutiny of those digital platforms and methods takes a leap forward in significance.

Assets and funds are now widely distributed across multiple organizations. Physical asset ownership is even being shared between many stakeholders resulting in more ownership opportunities for less investment but in a distributed way.

In this webcast we will look at the impact of all of these new principles across multiple use cases and how it impacts not only on the consumers driving this behavior but on the underlying infrastructure that supports and enables it. We’ll examine:

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Your IoT Questions Answered

The SNIA Cloud Storage Technologies Initiative (CSTI) webcast on IoT explored how the explosion of data generated from IoT devices creates unique challenges in the way we store, transmit and curate data. If you missed the webcast, you can watch it on-demand. This topic generated several interesting questions.  As promised during the live event, here are answers to them all:

Q. Do IoT devices consume as much data as they produce?

A. It really depends on the device. There are some like sensors that will only produce data and transmit it on, on the other hand the more intelligence built into these devices the more need there might be to consume data to drive that intelligence. In the future, it’s possible there will be much more device to device (or peer to peer) traffic between IoT devices, cutting out the leg back to the data center altogether for data that doesn’t need to be there.

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