Stan Stalnaker said: Congratulations to Ivan Lovric, the first person to win an instalment of the Ven Prize. Ivan's work on IoT transactions and AI entities has resulted in the first machine to machine payment protocols, which point the way for sustained M2M economic paradigms using Ven.

These protocols are currently being integrated into the Ven API to enable others to take advantage of these technologies.

For his efforts to date, Ivan has been awarded a 5000.00 Ven award from the Ven Prize pool, and the award will be announced Monday 1 July, 2013 at the Wired Money conference in London.