Iotex is a startup that aims to build a decentralized network for Internet of Things(IoT), powered by a scalable privacy-centric Blockchain. IoTeX is governed by foundation registered in Singapore. Its R&D team is based in Menlo Park, Singapore, and globally.

IoTeX aims to be a platform for others to build DApps for IoT. Each IoT DApp runs within one subchain and can communicate with other subchains via the rootchain. Typical IoT DApps lies in the sectors of sharing economy. For example, a device loans out its computation/ storage/ connectivity capability in exchange for tokens or a device (like a RFID on the bike) can provide certain services in exchange for tokens.