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

  • California Consumer Privacy Act (CCPA)

    The California Consumer Privacy Act (CCPA) is legislation in the state of California that supports an individual's right to ...

  • compliance audit

    A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines.

  • regulatory compliance

    Regulatory compliance is an organization's adherence to laws, regulations, guidelines and specifications relevant to its business...

SearchSecurity

  • privilege creep

    Privilege creep is the gradual accumulation of access rights beyond what an individual needs to do his job. In IT, a privilege is...

  • BlueKeep (CVE-2019-0708)

    BlueKeep (CVE-2019-0708) is a vulnerability in the Remote Desktop (RDP) protocol that affects Windows 7, Windows XP, Server 2003 ...

  • endpoint detection and response (EDR)

    Endpoint detection and response (EDR) is a category of tools and technology used for protecting computer hardware devices–called ...

SearchHealthIT

SearchDisasterRecovery

  • disaster recovery team

    A disaster recovery team is a group of individuals focused on planning, implementing, maintaining, auditing and testing an ...

  • cloud insurance

    Cloud insurance is any type of financial or data protection obtained by a cloud service provider. 

  • business continuity software

    Business continuity software is an application or suite designed to make business continuity planning/business continuity ...

SearchStorage

  • Hadoop as a service (HaaS)

    Hadoop as a service (HaaS), also known as Hadoop in the cloud, is a big data analytics framework that stores and analyzes data in...

  • blockchain storage

    Blockchain storage is a way of saving data in a decentralized network which utilizes the unused hard disk space of users across ...

  • disk mirroring (RAID 1)

    RAID 1 is one of the most common RAID levels and the most reliable. Data is written to two places simultaneously, so if one disk ...

Close