Essentially, geofencing is a service that performs an activity when a device enters a predefined area. Businesses are devising novel methods to exploit these virtual restrictions, both internally and externally.
In 2012, the AEMP (Association of Equipment Management Professionals) created a telematics standard to provide some structure to all the chaotic telemetry data.
Web3 represents the next generation of the internet and, perhaps, of organizing society. Web3 is to, supposedly, break the world free of monopolistic control.