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A decentralized network to manage IoT data

USA, California
Market: Blockchain, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 05/10/2019
Min investment
$  25.000
Total required
$ 500.000
Rating
equalizer 394 из 1000
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Idea

AnyLog is building a decentralized network to manage IoT data. The AnyLog Network overcomes the technical challenges that companies are facing - using the network, complex , multi-tiered architecture (at the Edge-Fog-Cloud tiers) are replaced with a simple and automated process. Using the Network, companies are able to manage their data in real time, in a secure way and without scaling limits. This approach reduces the costs of managing IoT data to less than 1/10 of the current costs and it allows companies to extract immediate value from their data.

Current Status

Starting POC phase

Market

The IoT market is in the trillions. The market size of the back-end storage and processing of data from connected devices is a $20B market (IDC). Note that this market grows very fast as the amount of IoT data in the world duplicates itself every 2 years and this trend will accelerate with the adoptions of AI and BI systems and 5G networks.

Problem or Opportunity

Managing large sets of IoT data is complicated and expensive. Companies manage the IoT data through a multi-tier architecture: First, the data is captured and managed at the edge of the network, near the devices that generate the data. Then the data is transferred and processed at the Fog layer. From there some of the data is send to the Cloud. This approach treats the data differently at each layer and is using different software stacks in each layer. CIsco say that 75% of all IoT projects fail and Gartner say that bringing the data to the cloud will not be, technically and economically viable.

Solution (product or service)

AnyLog is an open source product. Anyone can download the product and join the AnyLog network to manage IoT Data.The technology replaces complex, multi-tiered data management processes with a secure and automated process. As a result, companies are able to extract immediate value from their data and at less than 1/10 of their current costs.

Competitors

• There is no company that claims to automate the management of the IoT data and replace the Edge – Fog – Cloud layers with a single layer and a single software stack.
• Companies with some similarities are detailed in the competitive analysis document (the doc can be provided)

Advantages or differentiators

Unique advantageous IP
Patent application
Experienced team
Years of experience in building big data projects.

Finance

The requested budget will allow to add 3 engineers that will be working on our POC project.

Business model

AnyLog creates a platform that connects IoT devices with service providers (data centers) whereas:
1. Devices pay for storage of data.
2. Users and applications pay per request of data.
3. AnyLog takes percentage from these transactions.
4.
Very much like the credit card companies that deploy a network to facilitate financial transactions of third parties, AnyLog deploys a network that facilitates data transactions of third parties and receives royalties from these transactions.

Money will be spent on

POC projects

Offer for investor

Discount from the next (after the POC) round.

Team or Management

Risks

This is an infrastructure software project that can change the way companies interact with data.
The team has the experience to build the software.
The risk is more on the ability to raise the needed funds for the project.
To minimize this risk, we are now only asking for the funds that are needed to overcome the POC projects.

Incubation/Acceleration programs accomplishment

We worked in ETC labs (incubator) and made ETC as an optional blockchain to use.

Won the competition and other awards

AnyLog was recognized by APAC Business Headlines magazine as one of "A list" of companies that are driving the progress of #IoT by developing disruptive platforms and transformative solutions.
AnyLog has received a 2018 BlockAward in the category: Best in IoT. The 2018 BlockAwards celebrate technical innovation, adoption and reception in the Blockchain Industry and by the developer community, with the BlockAwards Ceremony taking place during BlockWorld 2018 (San Jose Convention Center), the world’s largest Blockchain Developer conference & expo, organizing the global Blockchain economy with over 3,000 attendees.

Invention/Patent

A System and Apparatus to Manage Data using a Peer-to-Peer Network and the Blockchain

Product Video

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address