The VeChain Foundation Invests in MXC
Berlin, 28 June, 2018 – MXC Foundation, the break-through cryptocurrency promoting LPWAN technology powered by the MXProtocol, has today announced its newest investor, the VeChain Foundation, the Singapore based public blockchain platform that focuses on providing enterprise-level blockchain solutions for numerous industries.
“At MXC we aim to create a decentralized, global IoT economy, where the data market is something individuals and small companies can participate in, and profit from,” said Hu Xin, CEO of the MXC Foundation. “With the support from the VeChain Foundation, we are one step closer to achieving a shared economy where IoT data will be much more visible, transparent and ethically trackable.”
The VeChain Foundation is the world’s leading public blockchain platform offering Blockchain-as-a-Service to enterprises. By leveraging blockchain technology, the VeChain Foundation continuously aims at optimizing and adding value to the scope and development of its VeChainThor platform. In order to create a platform with holistic capabilities, the VeChain Foundation’s approach is to include the world’s best service providers, reputable enterprises and global experts into their platform’s ecosystem to ensure the integration of as many business activities as possible.
“At its heart, MXC is a data trade network that leverages the sharing economy to form very wide, efficient networks where sensitive data is not shared randomly, an issue so many other solutions do not address,” said Sunny Lu, CEO of the VeChain Foundation. “Great transparency and immutability, along with the combination of IoT and blockchain technology can provide, we believe, is the solution to tackle problems such as data manipulation.”
MXC combines the LPWAN and the Machine eXchange Protocol (MXProtocol). This is then combined with the Machine eXchange Coin which supports the user with streamlined data transactions and data flow monetization. Individual users and enterprises can construct a decentralized and secure LPWAN simply by connecting a device to the online network. This enables any device connected to IoT to connect. IoT devices are then monetized through an LPWAN gateway where they can access all published data traded within the marketplace.