Summary of the Hannover fair experience by topocare
The “pay per use” or “pay on production” PoC realizes a machine payment for every production step undertaken. The IOTA token are transferred directly when a production step is reached.
In the PoC the textile consumption is monitored by the machine, which triggers the payment. The machine is operating its own IOTA wallet and initiating the transaction of IOTA token based on the monitoring. The amount transferred for each production step is 3 IOTA which represents a micro-transaction of a approximately 0,0000009 Euro.
Due to the fact that a transaction has to be confirmed within the IOTA tangle it needs some time to be accepted. The machine is monitoring the transaction process and is promoting or reattaching a transaction, if it was not confirmed within a certain time. The average confirmation time was 3–5 minutes.
All transactions undertaken on the Hannover fair can be seen on thetangle.org. It can be observed, that there were…