IOTA (MIOTA) diversification appears to be headed in the right way. Unlike other Altcoins that specialize is a single industry, the coin is going all out to secure different market as it increases its real world use cases. Signing an agreement for a digital innovation venture in the financial sector is the latest move in disrupting the sector.
SinoPac quest to tap in to the DLT appears to have gotten a boost via IOTA Tangle technology. There is a lot of potential in the IoT marketplace and the blockchain outfit has been in the forefront in using it to present to its consumers real world solutions.
IOTA SinoPac Deal
SinoPac is a Taiwan based Financial Holding company that is respected in the banking sector. Through its innovative technologies, it has been able to revolutionize the iCertificate to offer practical solutions to the notary industry. The firm’s choice for IOTA Tangle ensures data immutability is maintained in their digital documentation processes.
Confirming the MOU, Tina Chiang, the Senior Executive Vice president Chief Digital and Technology officer at SinoPac says:
“iCertificate is an always needed notary service in digital certification application, not only is education or public utilities territories, but in trading and supply chain industries. We are pleased to partner with IOTA is distributed ledger technology. With IOTA’s support, iCertificate was developed as a flexible and extensible service, which efficiently consolidates the bothersome landscape of many individual and different digital certification authorities in to one platform.”
This collaboration comes at a time when MIOTA needed a boost the most and the head of Business Development at the Norway IOTA foundation adds:
“IOTA is thrilled to see SinoPac take their notary certification platform to the next level. It not only demystifies IOTA’s potential to use Tangle in a wide variety of corporate products and services, but also demonstrates the increasing practical and real world usage of distributed ledger technology in the financial sector.”
What the IOTA (MIOTA) SinoPac Deal Means
This is a good opportunity for IOTA to increase its adoption in the Taiwan market and tap into to one of the strongest Asian economies. SinoPac will showcase tangle capabilities to the industry movers leading to more institutional investors coming onboard, a boost that IOTA cannot afford to let go.
This partnership cements IOTA foothold in the region after the Taiwan city of Taipei being the first smart city in the regions thanks to Tangle. MIOTA intrinsic value has been put to test and the increased popularity is a surefire catalyst for the blockchain outfit to become a household name and a brand to identify with in the corporate circles.
IOTA scalability is another reason why its entry into the Asian market is sending shivers down the spines of its competition. Using the Tangle does not attract any fees and this is a value proposition route to the market. This will save the partner institutions thousands of dollars once they integrate their systems to the tangle.
IOTA (MIOTA) Price Performance
MIOTA is a single entity in the crypto market which has many players and when the market movers are bleeding, the ripple effect naturally trickles down to all other digital coins. Bitcoin, for instance is trading at a low of almost $6100 down from the $8000 support level. This has affected the entire markets and traders are keeping vigil till the market recovers.
However, IOTA focus in on institutional investors who are ready to jump in once the regulations uncertainty ebbs off the market. At press time, the MIOTA price stood at $0.981604 after shedding 11.93% to the dollar in the last 24 hour trading window.