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Mastering Internet of Things by Peter Waher

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Defining economic feedback models

One of the goals of the IoT Harmonization working group is to define a method to publish and accept contracts for usage of things in the network. Discovery and provisioning interfaces already exists. But an infrastructure for contracts that can be accepted would allow for the creation of economic feedback models based on usage. This would permit the creation of open markets for the Smart City. It would complete the requirements of standards and allow the creation of true Smart Cities.

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