In the most recent installment of “Decentralize with Cointelegraph,” host Savannah Fortis and WeatherXM CEO Manolis Nikiforakis delve into the future of weather forecasting, exploring the potential of Web3 and the Internet of Things (IoT) in revolutionizing weather data collection and offering precise hyperlocal weather insights.
Revolutionizing the way weather data is gathered, imagine a world where individuals ranging from farmers to scientists can access the most precise and hyperlocal weather information. WeatherXM, a community-supported weather network, is striving to make this vision a reality by establishing a decentralized network of weather stations powered by Web3 and IoT technologies.
These decentralized weather networks empower users to contribute data from their personal weather stations, resulting in a comprehensive and trustworthy source of weather information. Nikiforakis describes it as a community-driven approach that enhances the accuracy of weather forecasts and democratizes access to essential weather data.
WeatherXM’s innovative technology merges IoT devices with blockchain networks like Helium and Filecoin to securely store vast amounts of weather data while ensuring scalability. Station owners are rewarded with the platform’s native ERC-20 governance token, WeatherXM (WXM), as an incentive. Additionally, users can earn daily rewards based on Arbitrum and accumulate beta rewards for their participation. WXM became tradable on Uniswap v3 and other platforms on May 30.
Nikiforakis elaborates on the practical applications of the technology, from delivering precise weather forecasts for agriculture to enhancing disaster preparedness. With a decentralized network of weather stations, WeatherXM aims to provide accurate weather information even in the most remote areas.
Highlighting the importance of WeatherXM’s efforts in developing regions where access to accurate weather data can have a significant impact on agriculture, safety, and overall quality of life, Nikiforakis mentions initiatives to provide weather station hardware to marginalized communities to ensure inclusivity in the network.
Having deployed 5,000 weather stations, with the majority actively contributing to the network, WeatherXM achieved a significant milestone. On May 22, the company secured $7.7 million in a Series A funding round led by Lightspeed Faction. The focus remains on expanding the network and enhancing data collection, with the ultimate goal of establishing a global decentralized weather system.
For more insights on WeatherXM and the transformative impact of decentralized technology on weather forecasting, listen to the full episode of “Decentralize with Cointelegraph” on Cointelegraph’s podcast page, Spotify, Apple Podcasts, or your preferred podcast platform. Also, explore Cointelegraph’s complete lineup of other shows.
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