Browse Definitions :
Definition

M2M economy (machine-to-machine economy)

A machine-to-machine (M2M) economy is one in which machines are autonomous market participants that have their own bank accounts. In the near future, it's expected that M2M participants will be able to lease themselves out, hire their own service engineers and pay for their own servicing and replacement parts.

In an M2M economy, businesses may be able to leave asset management and maintenance to the assets themselves. That's because the growing pervasiveness of the Internet of Things (IoT) and advances in artificial intelligence (AI) are making it possible for sensors, actuators and networked smart machines to operate autonomously, communicate directly with each other and use data gathered over time to maintain themselves without human intervention.

Currently, the relatively high cost of transferring micro-payments has been a roadblock in the growth of an M2M economy. Currently, the IOTA Foundation, a non-profit, open-source driven organization headquartered in Germany, is promoting Tangle, IOTA's distributed ledger technology, as a way for people and machines to transfer data and/or money without transaction fees. If concerns about zero-fee transactions can be addressed, use cases for M2M economy experimentation is expected in various sectors of the economy include manufacturing, logistics, resources, agriculture, energy and infrastructure. 

This was last updated in March 2018

Continue Reading About M2M economy (machine-to-machine economy)

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

SearchCompliance

  • data governance policy

    A data governance policy is a documented set of guidelines for ensuring that an organization's data and information assets are ...

  • risk management

    Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings.

  • compliance as a service (CaaS)

    Compliance as a Service (CaaS) is a cloud service service level agreement (SLA) that specified how a managed service provider (...

SearchSecurity

  • Advanced Encryption Standard (AES)

    The Advanced Encryption Standard, or AES, is a symmetric block cipher chosen by the U.S. government to protect classified ...

  • intrusion detection system (IDS)

    An intrusion detection system (IDS) is a system that monitors network traffic for suspicious activity and alerts when such ...

  • Secure Shell (SSH)

    SSH, also known as Secure Shell or Secure Socket Shell, is a network protocol that gives users, particularly system ...

SearchHealthIT

SearchDisasterRecovery

SearchStorage

  • cache memory

    Cache memory, also called CPU memory, is high-speed static random access memory (SRAM) that a computer microprocessor can access ...

  • capacity management

    Capacity management is the broad term describing a variety of IT monitoring, administration and planning actions that are taken ...

  • cloud storage

    Cloud storage is a service model in which data is transmitted and stored on remote storage systems, where it is maintained, ...

Close