Enabling Financial Transactions on IOT Devices
Problem to Solve:
IoT has rapidly been adopted in various domains in the past decade for its convenience and opportunities. IoT devices may need to do financial transactions in commerce applications like toll systems and parking charges, automated vehicle charging. But an IoT solution has a single point of failure in the current solution.
Cryptocurrencies have potential to provide smooth payment automation in these micro-payment scenarios.
Possible Solution:
Solana solves the scalability issues in other chains which makes the adoption feasible for micro payments
Builders can build solutions to enable crypto payments on IoT devices. It can enable coordination among thousands of devices in a tamper proof and decentralized manner
It can be direct integrations or some other way to facilitate the transactions.
Resources:
Related Ideas
