What does the company/project do?
MXC automates M2M (Machine-to-Machine transactions), making it easy to decentralize big data, as well as fostering a device data economy. With the establishment of the MXC token, LPWAN technologies’ adopters are able to trade LPWAN Gateway access or sensor data for MXC. The trade is automatized utilizing smart contracts running on the MXProtocol (Machine eXchange Protocol).
MXC is a Berlin-based non-profit organization fostering the universal adoption of Low-Power Wide-Area Network (LPWAN) technology. With the introduction of the MXC coin and the MXProtocol, MXC grants everyone an opportunity to benefit from a more intelligent infrastructure.
How advanced is the project?
MatchX, a partner of the Machine eXchange Coin (MXC) Foundation, has released the MatchBox LPWAN Gateway, as well as the LPWAN (Low-Power Wide-Area Network) module together with development kits. It has reached more than 40 countries with distributors in Australia, North America, Asia and Europe. The first Proof-of-Concept has been performed in conjunction with the Stellar Development Foundation, utilizing the LPWAN coverage and enabling sensors to pay with each other.
What are the tokens used for and how can the token value appreciate?
Machine eXchange Coin is the first Token designed to bridge current commodity-based trading of cryptocurrency tokens and the cash-based global economy. Utilizing the “sharing economy”, MXC uses this as an axis, allowing large businesses, SMEs and individuals to borrow or rent assets owned by someone else.
Users place LoRa-based protocol hardware in opportune positions in order to benefit and profit from their locations and their decentralized LoRaWAN network. Businesses benefit by using these user-based networks to send sensor/device data, building a new “sharing economy.” Wallets are stored in the cloud allowing individuals to profit from businesses sending sensor data via their LoRaWAN LPWAN. The coins are then sent and traded from the sensor holders that MXProtocol addresses to the Gateway distributor.
MXProtocol gives network participants incentives to use, deploy and trade their network elements. In addition to that, it is a people-owned secure and private network that won’t suffer from public congestion like what Ethereum encountered with CryptoKitties.
The prices and the amount of off-chain bids will surely motivate companies and individuals to deploy the LPWAN Gateway to the field, thus expanding the network coverage for the chain. MXProtocol shifts control from telecommunication conglomerates to companies and individuals by allowing them to deploy their own LPWAN. The larger the network coverage of the chain, the higher the value of the tokens.
Team & Advisors
Sheen Xin Hu, CEO
Sheen Xin Hu has been developing IoT solutions since 2010 and has quite a stack of patents and papers to show for it. Since the IoT scene is exploding in Berlin, that’s the city where he’s concentrated his career. He has solid backgrounds in Lora, Wireless Sensor Networks, RFID, Microstrip Antenna and Linux Kernel developments.
Aaron Wagener, Co-Founder & COO
As Co-Founder and COO of MXC, Aaron is fostering change by connecting IoT Hardware with sophisticated Blockchain technology.
Aaron is a forward-thinker, who firmly believes in IoT, Hardware and connecting it on the Blockchain. The future of humanity is in “Smart Cities”, and Aaron’s goal is to empower, engage and serve the people, shining a light on the benefits of a truly connected, intuitive globe.
Vadim Vygonets, Lead Software Developer
Vadim Vygonets is Software engineer with a background in firmware and UNIX systems.
Piotr Brzezinski, Protocol Engineer
Piotr Brzezinski is an Electronic Hardware Engineer specialized in digital, analog and RF design in industrial, automotive and consumer electronics.
Jeff Stahlnecker, Growth Manager
Jeff Stahlnecker is a communications professional and tech enthusiast writing about blockchain, big data, and unified communications. He is nicknamed “the MXC guy” or “the helpful communicator”.
Jeffrey Wernick, Entrepreneur and Private Investor
Jeffrey is a recognized investor, known for supporting successful companies including Uber and Airbnb. He believes in the power of the “shared economy”, and has been a strong supporter of Bitcoin since 2012.
Leo Wang, PreAngel Fund – Founding Partner
Leo is a celebrated early investor in unique Blockchain & Cryptocurrency Companies. Since 2011, Leo and his partners have been managing key Tech-StartUp portfolios, investing in excess of $160 Million USD.
Meinhard Benn, SatoshiPay Founder
Meinhard is an experienced entrepreneur and open source specialist. He discovered blockchain in 2011, founded SatoshiPay in 2014 and is an active member of the blockchain ecosystem in Berlin, London, and beyond.
Strength and Opportunities
Machine eXchange Coin (MXC) offers a unique and specifically designed decentralized technological “Data Trade Network” to the global Token economy. Data can be shared on a mass scale whilst ensuring absolute end to end privacy. The MXC intends to be distributed amongst data owners, data receivers and data network hosts, paving way for a facilitated cross-over from a “commodity” based Coin into an everyday trading Coin currency.
Weaknesses and Threats
The company has a short history, considering it has been operational for only one year. Furthermore, the equity funding round only occurred four months ago.
The CEO’s experience in business development is as yet not known. As such, a number of investors may be skeptic about investing in the company due to lack of confidence in the CEO’s ability to successfully spearhead the project as well as in playing a critical role as a figurehead.
The company’s roadmap is kind of vague and this makes their hard-cap of USD 24,000,000 a bit too high.
MXC is a financially sound project with great outcomes for the industry. Incentive to use and a strategically placed position in the industry is an added advantage in this case for long-term success. It comes bundled with both first-mover advantage as well as a competitive advantage, given it is backed by MatchX. Be that as it may, taking into keen consideration both the company’s strengths and weaknesses, this could be yet another data marketplace protocol that is not highly valued by the market. However, in our opinion, this is no reason to recoil from the project. The pros undoubtedly outweigh the cons and considering the project has made great advancements while still at its youthful stage, we believe there is so much more coming ahead and they have a GREAT future.