Machine Money: Empowering Devices with Wallets

The challenge

Up until now devices were only able to send data to each other. This means that if a device wanted to sell something, to another device or a human, it would have to involve a payment system to collect the money. This adds fees, contracts and complexity to something that should be easy to do.

To fix this problem, the IOTA protocol was created. IOTA lets devices send data and money directly between each other, because if device can control its own money it can change the way it can interact with the world around it.

To illustrate this, check out the video below which shows how a car, with its own wallet, can be so much more than a just a car:

Our challenge to you:

We are challenging you to build a machine that can buy and sell goods or services for money using the IOTA protocol.

We want you to create something that wouldn't be possible using standard technology. This could be something as simple as a light bulb that turns on when you send tokens to it or as complex as a set of devices that are generating electricity and selling it to other devices which are consuming.

At the IOTA Foundation we are exploring the IOTA protocol's use cases in various industries. We are actively working in the automotive, energy, supply chain and health fields by creating blueprints and use cases that showcase the technology.

Now we want you to open your favourite IDE and heat up your soldering iron and create something new using the IOTA protocol!

Inspiration

Building something that is completely new is pretty tough. So we've compiled a list of examples of what can be done when you combine hardware with the IOTA protocol. See the links below to get some inspiration.

Check out some of the previous winners of IOTA contests on Hackster:

And here are a few of our favourite applications from the community:

IOTA Vending Machine:

A router that sells you internet:

Prizes

General Competition

Prizes for the top 3 projects.

1st Place

1 winner

DJI Mavic Air

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$800 value

The DJI Mavic Air is an ultraportable and foldable drone which features high-end flight performance and functionality for limitless exploration.

2nd Place

1 winner

Cetus3D Printer

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$500 value

The Cetus3D is a minimalist, modularized printer that simply works. Easy to setup and get printing right away.

3rd Place

1 winner

Oculus Quest

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$400 value

Oculus Quest is the first all-in-one gaming system built for virtual reality. Now you can play almost anywhere with just a VR headset and controllers.

Runner Ups

For those that have missed out on the main prizes we have runner up prizes for some of the other outstanding projects that didn't make it!

10 winners

IOTA Tokens

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$150 value

IOTA tokens are the mechanism we use to transfer value on the IOTA mainnet.

Hackster Impact Prize

Join Hackster as we rally with the United Nations’ Sustainable Development Goals (SDGs) in order to make today's world a smarter, healthier place. The Hackster team will select one project that best contributes to any of the SDGs. Please refer to the specific judging criteria for this prize category.

1 winner

$250 Gift card + Video interview + More

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$430 value

The winner will receive the following:
- a $250 gift card;
- a 12-month subscription to Patchr Premium ($180 value);
- last but not least, they will be featured in a video interview with Hackster’s one and only Alex Glow.

Please visit the Hackster Impact Prize page for more information.

Resources

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