Welcome to the 60-second Crypto Gem by KuCoin. Today, we will be talking about IOTEX and its native token, IOTX. IoTeX is building the world’s leading privacy-centric blockchain platform for the Internet of things, which connects smart devices to decentralized applications, to enable all physical and virtual things, including humans, machines, businesses and dApps, to exchange information and value at global scale. The IoTeX blockchain already powers real devices, including Pebble Tracker, which is set to transform the global asset tracking industry by addressing the more than $400 billion in annual losses that result from supply chain errors. It also provides trusted location, environment and motion-tracking data featured with strengthened security from hacking and data corruption. The founding team consists of the former tech leads from Google, Facebook, Uber, Intel, Bosch. IOTX can be used to pay for transactions, staking and governance, and to register new devices on the IoTeX network.