Until now, IOTA’s primary wallet has been Trinity. Trinity set a high standard in the industry, with a slick design and simplified user experience that few other wallets could match. Trinity was IOTA’s first stateful wallet, successfully making one-time signatures safe for human use. But Trinity, like the number system it owes its etymology to, will remain in IOTA 1.0.
We have taken IOTA 1.5 as an opportunity to rethink the wallet from the ground up, from transactional logic to user experience to design. We have drawn on everything we have learned over a three year period and built an app that will serve as a platform for IOTA’s current and future ecosystem. Our wallet for IOTA 1.5 and beyond will be calledFirefly.
Another offering of smart infrastructure can be seen with cross border connections for transportation of goods and services. The ownership of infrastructure in the U.S. is highly fragmented; with cities owning local and neighborhood roadsides, and states owning highways and interstates. This also means that the infrastructure supporting this is highly distributed, because each entity has to have it’s own systems in place to support their infrastructure, typically using different solutions, services and data structures.
When a vehicle is transporting goods and services through different jurisdictions, the infrastructure they’re connecting to belongs to different entities. So the way they connect to that infrastructure, or don’t connect in many instances, changes rapidly and decreases the amount of utility and intelligence that infrastructure can supply at scale. Whether this be a delivery service provider, or a grocery shipment coming across state lines.
The biggest impact of smart infrastructure is that it enables local governments to focus on the reason they’re there in the first place; to increase the quality of life of the local residents, bring stability and culture to local businesses, and create a welcoming and frictionless environment for tourists or visitors. Governments can create stability, streamline sources of revenue, and integrate a frictionless operational environment for people and organizations in their jurisdiction.
Consider transportation infrastructure. A lot of revenue in cities and states comes from things like tolls and roadside parking, and of course taxes. States control the highways, interstates, and tolling infrastructure commonly through collaboration with service providers. Cities control the local roadside and passthrough streets and the revenue accrued through parking solutions. With the pandemic, these resources have dried up due to people staying at home, social distancing, using less public transit and working remotely.
n the United States, critical city, state and federal infrastructure is falling behind. While heavy investment, planning and development have gone into the U.S. infrastructure system, much of it is not keeping up with the pace of new technology, and some of it hasn’t had a proper update in decades, instead just adding new systems onto old systems. This can be allotted to a combination of liability structures in the U.S., difficulty in enabling interconnection between infrastructure in different jurisdictions, worry over introducing large-scale security risks and an attempt to mitigate that risk.
There is interest in upgrading city systems to be more efficient, to be more in line with real-time demand and to move into the 21st century, but it’s going to take work. It’s also going to take new technology.