Espiota originated from the idea to make cryptocurrencies finally usable for the broad masses. Except for simple payment methods, where users transfer their values from one smartphone to another, there were no real applications. Of course there are several DIY projects that use a DLT to operate a coffee machine, for example. These projects are quite interesting – but they all share the same problem: a complicated change to the hardware is always necessary. Furthermore, these applications usually only run in combination with a Raspberry Pi or similar. Besides, these application examples are almost all product specific and not easily extendable to other products. Not to mention the usability.
We wanted a product that everyone can use. Without any programming knowledge etc.. We made this user-friendliness a priority in order to finally make cryptos usable beyond pure speculation. Ideally IOTA with its Tangle technology offers the ideal platform. The possibility of feeless microtransactions enables us to realize exactly this goal. In order to enable pay-per-use / pay-per-x applications, a means of payment is needed that can also process sums far below one cent. Fees are of course a big obstacle with such small units.
With Espiota, we offer a software and hardware solution that can be used in almost any area and by anyone. Completely new business applications can be implemented quickly and cost-effectively. But also in the private environment there are countless application possibilities.
Payments, based on a DLT, free of charge and without middleman, directly to the account / wallet of the recipient, with full cost and usage control – a novelty in the field of Fintech / DLT.