What's Smart Plug?

SmartPlug is a project aimed at bridging the Internet of Things and the Smart Economy.

Motivation

The “Internet of Things” envisions a world where everyday objects are connected to the Internet, allowing them to send and receive data. Analysts forecast a $6 trillion market with 34 billion devices online by 2020 according to Business Insider.

Unfortunately, older homes and appliances are not wired for IoT, limiting their participation in modern home automation solutions. The Smart Plug solves the problem by retrofitting existing homes to support IoT features like network identification, control and monitoring of all attached appliances.

Further, the Smart Plug allows individual devices to participate in the access economy, expected to be a $335 Billion market by 2025 according to Business Insider. Now, owners of appliances in a home or public space can “rent” them on a per-use or power-consumed basis, creating new streams of revenue for such users.