Discord Town Hall Recap
Nitro Network’s Discord Town Hall was surely one for the books. The Q&A session was jam-packed with questions about Nitro Network’s new model for the IoT ecosystem, use cases, rewards and nests. The excitement in the server was palpable!
Anoop hosted the AMA with the new model presentation. In case you missed it, here’s a summary of the event.
Hello everyone, this is Anoop Vootkuri, I’m the CEO of Nitro Network. I’m going to be sharing what we are building. I’m going to give you guys a breakdown of what we are building, our future plans and what we’re going to be doing over the next year.
Once again, I cannot thank you guys enough for supporting us all up till this stage of our project. We realized that creating private networks won’t be sufficient to get IoT to the next level
I will start by examining the general landscape of the IoT industry, the statistics and the opportunities. IoT is growing as an industry, and it has a lot of room for growth. Though IoT is quite expensive because of a lot of issues bordering around the adoption of the technology.
Gaps in the IoT industry
There is a lack of proper education about IoT across the world. There is a massive knowledge gap that needs to be filled with respect to the industry. Another thing is that there is a lack of incentives; there is a need to create models that are well-incentivized to facilitate the adoption of IoT. The third thing is the lack of information in one consolidated place. We are going to introduce our one-stop IoT shop — NioT.
Before then, let’s talk about what we are building at Nitro. At Nitro, we are out to drive the entire IoT ecosystem, we are trying to make IoT a commodity. Just like products are bought on amazon, we are driving the adoption of IoT where people buy and use IoT devices in their homes.
How are we going to achieve this?
We are going to Drive IoT adoption through Education and promotion. Lack of education and proper awareness is a major challenge hindering the growth of IoT adoption. We plan to collaborate with IBC media, to host different events that will educate people properly about IoT. We will drive adoption by educating people on how to use it.
We aim to democratize IoT, making this tech accessible for all. The tech is for everyone to benefit from, and as such, we are pushing this to every sphere. we want to build a smart life by commoditising IoT, we want to bring efficiency to people’s lives.
Let’s also talk about the reward For IoT adoption. The reward for IoT adoption is going to be very interesting. The advantage for early adopters is that they will enjoy both adoption and Nesting rewards. Others who come after will only enjoy adoption rewards. Private networks are open source, so people who come later won't get nesting rewards. With two benefits, nesting and adoption rewards, we want to build a smart life by commoditizing IoT. I know it will bring efficiency to people’s lives.
Nitro’s Marketplace Launch will happen on the 3rd of November. We would be working to get more utilities in the ecosystem. However, in the beginning, we would be launching 20 use cases. We are partnering with Milesight for the devices. Let’s look at some of the sensors. We have the Ambience monitoring sensor which is used to monitor the quality of air, even Co2 levels can be tracked. In the future, there will be a lot of communication from machine to machine. We are positioning people for that future.
Another sensor is the Zone water leak detector. This can be used in the house, if there’s a leak, it can be detected easily. It’s all about safety. There’s also the Distance level sensor, which can be used to track goods, both on the B2C and B2B levels. Aldo, we have a smart portable socket, this device makes your life easier, efficient and more qualitative. Putting control of everything in your house into your hands.
The business model has been expanded to include multiple revenue streams
- IoT Marketplace
- Nitro Life App
Right now nitro is building tech around b2c in the IoT domain. We are democratising the tech we are building. Smart means a lot of things, efficiency, and smartness in the world. This is what we want to achieve, It is going to be about how you interact with the ecosystem. There is a lot of data that needs to be tracked. Nitro is going to be bringing the community together and the possibilities are endless. It’s going to be a multi-trillion-dollar industry.
Let me explain how it works. We have the gateways, the analytical layer and sensors. You buy a couple of sensors in your house. You put on the gateway and connect it to the app. You are good to go
The community is at the centre of everything. We are going to integrate into a DAO in the future, where the community takes the decisions. What I believe is that community is where we are, where we live. We are taking IoT to people’s doorsteps.
I hope to talk to you again In the next couple of weeks. We will have Biweekly interactions.
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About Nitro Network:
Nitro Network brings affordable and secure IoT solutions for you. The company is building the largest decentralized private communication network (PCN) using the LoRaWAN IoT devices. These devices enable your gadgets to communicate using 3G/4G/5G technologies. This hyperconnected network will enable unlimited use cases in your everyday life. Participants of Nitro Network’s decentralized PCN are part of an inclusive ecosystem that they own, operate and earn from. Nitro Network’s PCN will be a game-changer and has its proprietary token, NCash, at its core. On Nitro Network, everybody wins!