DiscoveryIoT lets brands track their products in a very inexpensive manner. The tracking cost per product is as low as $0.04 per month, which makes the solution ideal for rapid and mass adoption among low end products also.
Since all the data is stored in distributed ledgers of a blockchain, it is 100% reliable and secure from any hacking efforts.
The DiscoveryIoT solution gives brands real time visibility of their stock and sales data. This enables brands to take business decisions on real-time basis, without the time latency involved in traditional market research environments.
Globally, one of the main challenges brands face in data acquisition is support from retailers. Retail stores do not have any motivation to share sales and stock data with brands. The DiscoveryIoT solution does not require any support from retailers, thus bypassing a critical impediment in the entire process.
The data analytics layer of DiscoveryIoT supports custom report building, which can be built to suit the unique requirements of each brand.
The Discovery Solution is powered by the DIS token, which serves as the currency of exchange on the platform. Being a token-driven platform, all transactions are instantaneously carried out, thereby removing all latencies and delays from the system. Brands can access their data points instantly and the user community gets instant rewards for their participation.
The DiscoveryIoT solution is truly disruptive in nature and highly scalable. As there is no infrastructure like towers, scanners or readers required for the solution to operate, it is easily scalable and expandable across geographies.
Most of the IoT communication happens through traditional data transfer modes today, like, RFID, Wi-Fi and traditional telecom network. There are also some IoT specific communication networks that have been developed, like Sigfox and LoraWAN.
A brief comparison of Discovery and the existing communication solutions is given below:
|Infrastructure requirements||Reader Required||Wifi routers/modem||Telecom Towers(legacy)||Towers Required||Towers Required||None|
|Suitable for wide range applications?||No||No||Yes||Yes||Yes||Yes|
|Tracking costs||None||None||Very high||High||High||Very low|
|Data security||Low||Low||Low||High||High||Very High|