The crypto space has proven to be heavily driven by partnerships and adoption of coins in various jurisdictions. IOTA (MIOTA) falls among the crypto coins that have been quite successful in acquiring strategic partners. Just a few weeks ago the team secured a partnership with a household name as well as a popular financial services institution, both Europe based. Volkswagen is the company which IOTA is set to work with and the DNB ASA bank based in Norway. These moves have sparked excitement around the coin which is currently position 10 in market cap at the moment.
MIOTA has been a favorite in the market for a while although it’s only a year old in crypto. The coin is exchanging at $0.9493 against the dollar right now while one MIOTA is equivalent to 0.00015569 BTC. However, the coin has been on a bearish trend for the past month losing 29% in its price while the volatility stands at 41%. This is not to say that the coin is not prospectus especially with the partnerships it has managed to secure in 2018.
Volkswagen ‘Smart Cars’ IOTA deal
This milestone comes as a big boost to the IOTA (MIOTA) as crypto adoption picks up around the globe. IOTA plans on integrating their ‘Tangle technology’ with VW’s tech to advance the intelligence of its cars using blockchain. The news of this partnership hit the market on June 11th following the success in proving the Proof of concept protocol by IOTA.
Speculations point to a launch of the first IOAT-powered VW in 2019 after which the trend of smart vehicles is expected to increase by a big percentage. Blockchain will enable these vehicles to function at a more effective level, Tangle tech is expected to support the maintenance of smart vehicles using up to date software. Volkswagen have expressed their faith in the IOTA project through sentiments shared by their Chief Digital Officer,
“Distributed Ledger Technologies (DLT) are crucial for the future of trusted transactions. IOTA has great potential to become a DLT leader with the Tangle approach.”
Norway DNB ASA Bank IOTA Agreement
The Internet of Things has been a fundamental concept and approach that has helped the MIOTA coin gain mileage within crypto. It is this reason that has seen the IOTA team put efforts to have the MIOTA altcoin adopted within the electric charging station arena. This project has been constantly exploring opportunities within the IoT space which in order to increase its user base and value. IOTA has been successful so far in Netherlands where the coin is used for electric vehicles as a charging station.
The most recent mileage by IOTA (MIOTA) is partnering with DNB ASA which is a leading financial services provider in Norway. This bank has a strong presence within its jurisdiction and neighbors making it a suitable partner for IOTA’s adoption. The two agreed to work together on this project due to interest similarities within IoT space and peer to peer communications which can now be improved by blockchain. IOTA signaled a positive approach towards this agreement which they signed with the DNB ASA bank through their head of business development,
“innovation and co-creation in the space of citizen-centric innovation, machine economy and decentralized data marketplaces”