Meet Jing Sun, CIO, COO and Co-Founder of IoTeX

For over 13 years, Jing has been successfully driving innovation, investment and ecosystem building. She’s been at the forefront of early stage startup incubating and seed investing. Since 2008, Jing has led over 60 investments and innovations in blockchain, security and the internet of things (IoT). Jing defines herself as a builder of infrastructure for the new Web3.0 economy, MachineFi and the metaverse. She has a clear vision of where the crypto and blockchain space is today, the trends that define the space and where it is headed.

She is a true believer of open and decentralized networks. At IoTeX she heads operations and investment. Her vision at IoTeX is to lead this top blockchain project to the machine economy and into the Metaverse, where she says, people will be able to securely and successfully monetise their data and value generated by machines. MachineFi, she adds, bridges the physical world and the Metaverse. “My vision for the future is one where people will control and monetize their data and devices from within the Metaverse.”

Tell us about IoTeX

IoTeX is the leading decentralized L1, EVM and open source blockchain network powering the future of Web3 and the decentralized machine economy (MachineFi) via dApps that reward and benefit people for real-world everyday activities.

The platform enables developers, smart device manufacturers and businesses to connect billions of machines with Web3 infrastructure, to create innovative products including DeFi, NFT, DAO, Metaverse, and MachineFi applications.

IoTeX’s core developer, MachineFi Lab, will shortly release W3bstream, the world’s first blockchain agnostic decentralized compute infrastructure designed to bring real-world data from smart devices to Web3 dApps.

How Did You Come Up With The Idea For The Company and What Makes You Unique?

About five years ago, Dr. Raullen Chai, Dr. Qevan Guo, Dr. Xinxin Fan and me came up with an idea to democratize the IoT. The idea came from long hours and restless days of brainstorming ideas of how we could leverage blockchain technology to create a unique Web3 solution for real-world problems.

The four of us come from Silicon Valley-based firms and found ourselves in restrictive corporate structures, constrictions on innovation, and no opportunity to effect change.

Our passion for change and innovation has brought us to where we are today.

We’ve developed cutting-edge blockchain technology to build the most machine-friendly Layer 1, EVM-compatible, and open source platform with smart contracts, API, multi-chain wallet, and software development kits (SDKs). All this with the aim to create a web3 reward economy, and help bridge all smart device and automated machine networks.

And shortly, we’ll release their W3bStream, one of the most technologically-advanced data compute infrastructure. It is the world’s first decentralized protocol and it brings real-world data from smart devices to blockchain dApps.

Our open source IoT blockchain developers and builders can develop Web3 applications in weeks rather than months and years. Their go-to-market is significantly reduced. And this has attracted the attention of major industry leaders, including Samsung Next, Jump, Draper Dragon, and many more.

To put it in simpler terms, our technology will unlock the possibilities and enables endless x-to-earn and proof-of-anything networks and applications.

Let me explain a few. Sleep to earn, for example. This is a great Web3 dApp that employers implement to motivate their employees to rest well before going to work. This has a major potential to increase productivity. Walk to earn or exercise to earn. These are great solutions for health insurance companies. People that lead healthy lifestyles are less prone to illness and therefore represent a lesser financial risk. Bike to earn. This is a solution for local governments who can incentivize their population to be more environmentally friendly. Less contamination, less pollution control costs for authorities.

So, yes, IoTeX is unique in that it democratizes the IoT industry, which is estimated to reach $12.6 trillion by 2030. The machine economy is expected to be powered by over 125 billion smart devices by the end of this decade, beginning of the next.

How Has The Company Evolved Over The Last Few Years?

In late 2017, we were three people. Raullen Chai and me. And a few months later, Dr. Guo joined us and then Dr. Fan. We continued growing throughout the months and years. Today, our team is over 60-member strong. Today, we are a technological reference thanks to our scientists, who chair IIC and IEEE working groups. We are working towards the global decentralized machine IS standardization in the same way WiFi standards were implemented worldwide. We evolved from a L1, EVM-compatible blockchain to an  IoT blockchain technology provider and a leader to drive a NEW MachineFi category.

What Can We Hope To See From MachineFi Lab and IoTeX In The Future?

We can expect to see many of these real-word to web3 use cases, from x-to-earn, proof of humanity to community-driven machine networks. Our ecosystem stands to grow exponentially from its current 160 or so projects to into the thousands. We’ll see people taking back user data ownership and monetizing it in ways not possible before IoTeX and its MachineFi and W3bstream technology.