Blockchain Startup Moeco Wants to ‘Uberize’ IoT Connectivity

Blockchain, Interviews | December 22, 2017 By:

Dmitry Gorilovskiy is the CEO of Moeco, a service platform that enables customers to deploy citywide Internet of Things (IoT) networks using blockchain technology.

Gorilovskiy is a product creator and innovator with a proven track record in hardware and software development. He has 10+ years of experience in IoT product and business development and 6+ years in the blockchain space. Gorilovskiy is the creator of YotaPhone and founder and CEO of Woodenshark – the company behind multiple IoT and hardware products

BLOCK TRIBUNE: Can you explain what Moeco is for those who might not know?

DMTRY GORILOVSKIY: Moeco is a service platform that enables customers to deploy citywide IoT networks using blockchain technology. Moeco’s goal is to ‘Uberize’ IoT connectivity by delivering data to the right place in a secure way and making sure the gateways are compensated fairly.

BLOCK TRIBUNE: How can blockchain secure connections across the IoT?

DMTRY GORILOVSKIY: Blockchain technology enables secure environments that don’t require a trusted central party. The result for Moeco is the ability to form a contract between IoT devices and gateway owners that allow connections to be made without the need for monolithic infrastructure. The goal of making things decentralized is to be ready for 40 billion connected devices.

BLOCK TRIBUNE: What are the benefits and challenges of using blockchain in IoT development?

DMTRY GORILOVSKIY: Linking blockchain to devices is way more easier than linking it to people. Machine-to- machine protocols could be natively integrated with different blockchain technologies. As for challenges – there are many. For example, you can’t use the ethereum blockchain directly if you want to log M2M communication, since transactions are too slow and too expensive. At the same time, you can’t do “smart-contracts” on low-latency blockchain protocols. So you need to combine different blockchain solutions into one product to achieve all goals.

BLOCK TRIBUNE: Can you give us an example of use cases you are developing?

DMTRY GORILOVSKIY: Moeco holds the potential to unleash a truly global scale network that doesn’t require roaming agreements between each party. Beside this, Moeco truly benefits from the network effect. Just after we partner with one local company, for example, with a parking company in a specific city, that turns all their smartphone app users into walkable hotspots. And all parking app customers will form a city-wide IoT network anyone else could benefit from.

BLOCK TRIBUNE: Can you tell me about your recent partnership with Yzerchat?

DMTRY GORILOVSKIY: Yzerchat is a Dubai-based voice and chat app with a built-in translator. Moeco’s idea is to create a viable connectivity option for various sensors and IoT devices by employing the integrated Bluetooth LE functionality of Yzerchat users’ phones. When Yzerchat releases a version of the app containing the Moeco library, all Bluetooth LE-enabled devices with Yzerchat installed will become proximity-activated IoT hotspots. This solution has the potential to provide consistent IoT coverage throughout the entire territory of the United Arab Emirates.

BLOCK TRIBUNE: How do you see the market continuing to evolve in the coming years?

DMTRY GORILOVSKIY: Moeco forms a contract between devices and users that allows connections to be made without the need for central authentication and management.

It avoids the potential for bottlenecks as the number of IoT devices continues to grow, and with realistic estimates at around 20 – 30 billion connected IoT devices by 2020, that’s quite a significant potential bottleneck.