IOTA (MIOTA) – Fantastic opportunity to maximize growth with IOTA: While the majority of the cryptocurrencies in the industry right now are making use of Blockchain technology, there is one that goes beyond this. IOTA makes use of its own unique infrastructure which is known as the Tangle. Its characteristics such as scalability, lack of blocks and no-fee transactions make IOTA attractive to investors and traders. Furthermore, the cryptocurrency targets the rising Internet of Things (IoT). As such, the altcoin has attracted tremendous positive attention from major players in the world of technology. It has weathered storms and maintained its value. Today, IOTA is worth $2.10 which represents a 2.885% increase from its previous price. Its value is guaranteed to keep going up thanks to strategic investments and partnerships. Here is more on this.
Taipei partners with IOTA to create a smart city
Taipei is poised to become a major smart city. Currently the capital of Taiwan, it hopes to utilize technologies such as the Blockchain and Tangle to empower itself in a bid to become a smart, connected city. Towards this purpose, it has made a strategic partnership with IOTA. In doing so, it hopes to leverage Tangle technology in the smart metropolis. The Commissioner of the IT Department in Taipei City, Wei-bin Lee made public a press release which indicated that the technology presented by IOTA will usher in a new era.
How will IOTA implement the Tangle towards Taipei’s smart city vision?
The city hopes to create citizen ID cards which are smart and use Tangle technology. Aptly named ‘TangleID cards’, they eliminate the chances of voter fraud and identity theft. Moreover, the cards provide a special way through which the health and civil data of the citizens can be followed.
In addition to the TangleID cards, the city is working with IOTA to create a palm-sized special card which will have sensors embedded in it. These are expected to collect data about light, humidity, pollution, and temperature. By collecting this information from various parts of the city at the same time and relaying it to a central location, the citizens of Taipei can have the latest information about pollution no matter where they are. The partnership with Taipei was regarded by IOTA founder David Sonstebo as a major step forward in the application of cryptocurrencies in real-world situations. The partnerships don’t end there.
Dr. Hongquan Jiang and Johann Jungwirth join the IOTA Foundation
The folks behind this altcoin have established the IOTA Foundation. Through this organization, they can make altruistic contributions to the society in a non-profit way. One of the newest members of the IOTA foundation Supervisory Board is Johann Jungwirth. He is the Chief Digital Officer (CDO) of Volkswagen. His appointment to the position is currently active.
Joining him there is Dr. Hongquan Jiang who is a partner at Robert Bosch Venture Capital. The additions indicate that there is interest in IOTA’s Tangle technology from mainstream companies. This further shows that the altcoin is a stable investment and a reliable trading instrument as well.
Figure 1: IOTA Data Marketplace (Source: The Next Web, 2018)
Interest in IOTA from mainstream companies is not a new phenomenon. Late last year, the altcoin partnered with major companies such as Microsoft, Fujitsu, Deutsche Bank Telekom and Bosch in an effort to create a Data Marketplace for information from the Internet of Things (IoT). The data was to be collected through the micropayments made possible by IOTA’s proprietary Tangle technology.
In the monetization effort, the company created a method through which devices which are connected can buy and sell datasets and provide access to unused information. The process is highly secure and presents a gold mine for industrial companies.
The news of this partnership made IOTA’s value soar to highs of $5.50. However, a clarification showing that Microsoft was not a partner but a participant dampened spirits and made IOTA’s value drop for a while. However, it has picked up after details emerged that the companies were actually partnering in other projects such as the application of Azure to IOTA’s Data Marketplace.
From the partnerships and bonds that IOTA is making with mainstream companies, it is clear to investors and traders that the cryptocurrency is on a major rise. Not only has its price stabilized at a high level, the IOTA’s market share has increased by a factor of more than 4 times to $13 billion. The altcoin is headed for even greater times this year. Therefore, it is one to buy and hold.