IoT Device Onboarding
When onboarding IoT devices for use in MachineFi applications, each device should go through a "binding" process. The purpose of device binding is to associate a device with its owner’s blockchain wallet address.
Typically, multiple devices can be associated with the same owner, who will then be able to manage every single device, benefit from any value generated by the devices, and even transfer the ownership to another account.
Depending on the type of device and if it's been designed with decentralized applications in mind or a traditional Web2-based device, the onboarding process can be very different.