In the latest episode of Decentralize with Cointelegraph, host Savannah Fortis and WeatherXM CEO Manolis Nikiforakis dive into the future of weather forecasting to explore how Web3 and the Internet of Things (IoT) can be leveraged to decentralize weather data collection and provide hyperlocal weather insights.
Transforming weather data collection
Imagine a world where anyone from farmers to scientists can access the most accurate and hyperlocal weather data. The community-powered weather network WeatherXM is trying to make this a reality by creating a decentralized network of weather stations powered by Web3 and IoT technologies.
These decentralized weather networks allow users to contribute data from their own weather stations, creating a comprehensive and reliable source of weather information. Nikiforakis explains:
“We use this data to create a better forecast by following this approach of ranking third-party forecasts and then building on top of the best ones. We do a collection of the best bits and pieces and then we use machine learning to improve even further. Then the end-user gets a better forecast.”
The result is a community-driven approach that improves the accuracy of weather forecasts and democratizes access to vital weather data.
Innovative technology and real-world applications
WeatherXM’s technology combines IoT devices with blockchain networks like Helium and Filecoin to store its data. This integration enables storing and sharing vast amounts of weather data while maintaining security and scalability.
Station owners receive the platform’s native ERC-20 governance token, WeatherXM (WXM), as an incentive and reward solution. On May 30, WXM became tradable on Uniswap v3 and other platforms. Users can also earn Arbitrum-based daily rewards and accumulate beta rewards for their participation.
Nikiforakis elaborates on the real-world applications of the technology, from providing accurate weather forecasts for agriculture to enhancing disaster preparedness.
With a decentralized network of weather stations, WeatherXM aims to ensure that even the most remote areas can benefit from accurate weather information.
Nikiforakis also highlights the significance of WeatherXM’s work in developing regions where access to accurate weather data can significantly impact agriculture, safety and overall quality of life.
Nikiforakis says WeatherXM is also working on initiatives to provide weather station hardware to disadvantaged communities, ensuring that everyone can participate in the network:
“This is a newer initiative within WeatherXM, which is to pool together as a community in order to get this hardware into the hands of people who may not have access to it otherwise.”
Looking toward the future
WeatherXM has reached a milestone of deploying 5,000 weather stations, with the majority actively contributing to the network. On May 22, WeatherXM raised $7.7 million in a Series A funding round led by Lightspeed Faction.
As the project grows, the focus remains on expanding the network and improving data collection, ultimately aiming to create a global decentralized weather system.
To learn more about WeatherXM and how decentralized technology is transforming weather forecasting, listen to the full episode of Decentralize with Cointelegraph on Cointelegraph’s podcast page, Spotify, Apple Podcasts or your podcast platform of choice. And don’t forget to check out Cointelegraph’s full lineup of other shows!
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