In the most recent episode of the show “Decentralize with Cointelegraph,” host Savannah Fortis and WeatherXM CEO Manolis Nikiforakis explore the future of weather forecasting. They discuss how Web3 and the Internet of Things (IoT) can be utilized to decentralize weather data collection and offer detailed insights on hyperlocal weather conditions.
Visualize a scenario where individuals ranging from farmers to scientists have access to the most precise and hyperlocal weather data. The community-driven weather network, WeatherXM, 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 enable users to contribute data from their personal weather stations, resulting in a comprehensive and dependable source of weather information. Nikiforakis describes this as a community-focused approach that enhances the accuracy of weather forecasts and makes crucial weather data accessible to all.
WeatherXM’s innovative technology merges IoT devices with blockchain networks such as Helium and Filecoin for data storage. This integration facilitates the storage and sharing of vast amounts of weather data while ensuring security and scalability.
Owners of weather stations receive the platform’s native ERC-20 governance token, WeatherXM (WXM), as an incentive and reward mechanism. The token became tradeable on platforms like Uniswap v3 on May 30. Additionally, users can earn Arbitrum-based daily rewards and accumulate beta rewards for their active participation.
Nikiforakis discusses the practical applications of the technology, including providing precise weather forecasts for agriculture and enhancing disaster preparedness. With a decentralized network of weather stations, WeatherXM aims to ensure that even remote areas can benefit from accurate weather information.
The CEO also emphasizes the importance of WeatherXM’s initiatives in developing regions, where access to accurate weather data can profoundly impact agriculture, safety, and overall quality of life. He mentions that WeatherXM is working on providing weather station hardware to disadvantaged communities to ensure inclusivity within the network.
WeatherXM has successfully deployed 5,000 weather stations, with the majority actively contributing to the network. On May 22, the company secured $7.7 million in a Series A funding round led by Lightspeed Faction. The focus moving forward is on expanding the network and enhancing data collection to establish a global decentralized weather system.
To learn more about 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. Don’t forget to explore Cointelegraph’s array of other shows as well.