The world is one huge information system, where information can be accessed through this global connection. We live in a world where we depend on big and powerful intermediaries like the government, banks, and other platforms to help us with our transactions and exchange of monetary value.
However, these intermediaries are centralized therefore making them unreliable, slow, expensive, and prone to hackers. These are the problems the Internet of Value aims to solve.
The Internet of Value is an online space where things of monetary or social value can be transferred between peers instantly without the need for intermediaries. These things of value include currency, stocks, assets, securities, intellectual properties, etc.
Unlike the Internet of Things which is focused on things, devices, and new technologies, the Internet of Value is focused on things that hold monetary value on the internet.
The primary aim of the Internet of Value is for value to be exchanged as fast as information without the need for a middleman. With IoV, the transaction of value such as payments using foreign currencies can happen fast regardless of location.
The Internet of Value aims to solve the problem of the lack of access to financial instruments across the globe. With the wide global coverage of the internet, the internet is projected to surpass bank coverage globally. Global access to the internet means access to finance around the world regardless of financial and social status.
The Internet of Value uses the blockchain for the exchange and transfer of value, therefore, bringing about transparency and accountability in the financial system.
The vision of the Internet of Value is to bring ease and transparency in the transfer and exchange of things that hold monetary value on the internet.
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