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IOTA (IOT-USD) is a revolutionary project that seeks to solve the problems of first and second generation cryptocurrencies using Tangle . Tangle technology has many advantages compared to the normal blockchain design that IOTA boasts: it is fast, scalable to infinity and offers feeless transactions. It is designed for the Internet of things (IOT) and aims to be the backbone of Machine-Machine and economy interactions.
Looking ahead, a bet on IOTA is a bet on Tangle (DLT without blocks); and if this propagandized innovation can feed the interactions between IOT and Machine to Machine. It works similar to the blockchain but there are some key differences that IOTA purists believe they can help its technology win in the long run.
1. The main banks signed as partners
A recent partnership between IOTA and the bank DNB ASA leader in Norway highlights the belief that IOTA technology is superior. The two aim to explore the many ways they can implement new processes and technologies made possible by Tangle.
DNB specializes in corporate banking, investment banking and global markets. It is also a world leader in the energy, shipping and seafood sectors.
Commenting on the partnership, which began on May 31st, Lasse Meholm, head of the DLT at the bank, said:
"Like the Internet of Things (IoT) and Machine-to-Machine Communication (M2M) ) and the payment for microservices seem to increase in the future, we think that the commitment in a technology based on Distributed Ledger as IOTA provides us with an experience and valuable know-how on future revenue streams and business models We can not wait to dive into the IOTA space. "
News on how the bank can implement and implement the Tangle technology will certainly credit IOTA believers and investors; especially if it can be integrated into high gross revenue streams.
2. The UN has already collaborated with IOTA
In another move of interest for the price of MIOTA (the currency that powers the IOTA platform), UNOPS and IOTA have recently announced a partnership that seeks to help the United Nations technical advisory arm. The goal is to cut intermediaries and improve processes.
Commenting on the partnership, Yoshiyuki Yamamoto said the two organizations share a vision where people, devices, machines and sensors connect and communicate easily & # 39; industry 4.0 & # 39 ; which exploits technology for processes to work simultaneously without the need for intermediaries.
What really attracts UNOPS's interest in IOTA is the open tech that drives its blockchain. They consider it particularly useful when it comes to facilitating communication and managing supply chain bottlenecks; something that is often addressed by an international organization like the United Nations.
UNOPS services cover project management, infrastructure, financial management, procurement and human resources. It must also abide by the strict standards of accountability put in place for the global organization, a fact that strengthens the reputation of IOTA. This is not an altcoin who has signed a couple of other startups.
3. Positioning in the heart of the automotive industry's future
IOTA has also attracted a number of major automobile manufacturers. BOSCH was the first one last year when they bought a piece of IOTA so that they could test the Machine to Machine payments through an autonomous driving chip.
Then it was Volkswagen in June of this year that collaborated with the crypto platform to explore how Tangle can
BOSCH and Daimler are already working on a project to bring the world's first autonomous taxi to Berlin by 2020. Imagine a car able to collect and drop passengers any desired position Passengers could make their payments in the MIOTA using their smart devices.
PRICE ANALYSIS
IOTA has positioned itself positively with the partnerships listed above. But we have seen coin prices fall by over 90% (from highs above $ 5 to a current price just under $ 50. The market has been poor, but not all major currencies have seen this fall 19659020] it is no, that is only a reaction to the macro market and that IOTA does not have an immediate demand for its currency as others do.It is a long-term bet, one that could take years from now with an independent guide for example. [19659020] Some analyzes show rise for the IOTA.There, for example, in a LONG chart by TotoParasca:
As we see, IOTA is forming an upward trend coupled with significant defense lines. The altcoin is currently trading at $ 0.48 and when the mass adoption is reached it could shoot right past the all-time high score of $ 5, 6 established in December 2017.
The name of the game will be the adoption, since MIOTA depends on its use cases (example). With IOT and machine learning, the importance of the IOTA will become more significant and get nervous about business solutions, will push the use of MIOTA upwards.
In Tangle, IOTA has a revolutionary technology that could be the main DLT system in the future; compete directly with the big blockchain names like Ethereum, EOS and NEO.
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Disclosure: I / we have no positions in any of the actions mentioned, and we are not going to start any positions within the next 72 hours.
I wrote this article alone, and expresses my opinions. I'm not getting any compensation for this (other than Seeking Alpha). I have no business relationship with any company whose title is mentioned in this article.
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