The usefulness of IOTA (MIOTA) Tangle technology is about to be out into test once again. This time, the EU (European Union), under the EU R&I program Horizon 2020 is set to partner with the crypto coin platform for several smart cities across Europe. Billed the +CityxChange, the project is set to ignite the salient fire the platform started with the smart city concept.
After a successful partnership with Taipei on the first ever blockchain based smart city project, IOTA seems to be opening a Pandora of opportunities across Asia and Europe. The project proposal to get funding from the EU is a big boost for IOTA and its native coin, MIOTA.
“Horizon 2020 is the biggest EU Research and Innovation program ever with nearly €80 billion of funding available over 7 years (2014 to 2020)”, The project received really good comments and was placed above every other competing project. Being at the Numero Uno position, the consortium project will receive 20 million Euros in funding by the European Research and Innovation program Horizon 2020.
IOTA Smart City Concept and the +CityxChange Project
As much is this is a visionary and ambitious project, IOTA (MIOTA) is set to be the biggest beneficiary. This is another chance for the network to proof its usability by continuing to showcase its real world solution provision capabilities. According to the project website:
“+CityxChange vision is to enable the co-creation of the future we want to live in. This will include the development of a framework and supporting tools to enable a common energy market supported by a connected community. This will lead to recommendations for new policy intervention, market (de)regulation and business models that will deliver positive energy communities integrating e-Mobility as a Service (eMaaS).”
IOTA is playing a very critical role and +CityxChange expects the blockchain outfit come up with solutions by creation of Positive Energy Blocks culminating in Energy Districts. IOTA ecosystem will offer decision making support and other tools the project participants might require.
IOTA will strive to create a Positive Energy Block that seeks to reduce energy uptake and out efficiency measure in place that will translate into P2P energy trades and facilitate local depository that will be flexible. Since this is a community based project, it is envisioned to drive positive behavioral change in a top-down setting with backing from the local city authorities.
+CityxChange Goals and IOTA Role
The project is indented to benefit 8 cities including Limerick and Trondheim. The five year trial will be the testing ground for a possible future roll out of more Positive Energy Cities. The goal is to add valuable solutions to the Select EU cities whilst exploring other opportunities for commercially viable market after the project completion.
IOTA (MIOTA) Tangle has gained a lot of admiration and +CityxChange project appears to be the turning point for the smart city concept. This is a huge milestone and not many crypto outfits have been able to getting similar backing for organizations of repute like the EU. If the project proves to be successful, a flood of institutional investors is set to come onboard and this will be a plus for MIOTA value and price growth.
Positive +CityxChange and IOTA Appreciation by Experts
Specialists working on the proposal have shown a lot of positivity towards the partnership. This is a huge joint venture set to transform many European cities with individual governments and organizations waiting on the side lines for the outcome.
+CiityxChange is a new concept and a large scale Positive Energy District rollout is a surefire way of bringing the relevant communities and local authorities together to articulate the potential of IOTA. Energy solutions have always been elusive, expensive and out of reach to the ordinary citizenry and this use case will go a long way in changing the user lifestyle for affordable and reliable energy.
There is a lot of excitement around the project and IOTA Lovers sees it as the right opportunity for IOTA to showcase its capabilities to the world. According to the Head of Business Development at IOTA, Wilfred Pimenta:
“Smart cities is one of the fastest growing cross-sectorial arenas of innovation for IOTA. Building on our work and partnerships across mobility, energy or data marketplace, these smart city ecosystems bring it all together. The +CityxChange consortium gathers many public and private partners around an ambitious open innovation and co-creation initiative. This is 100% aligned to IOTA Foundation’s DNA and we can’t wait to get started.”
In support of the project, the Co-founder and co-chair of IOTA foundation, David Sønstebø added:
“The IOTA Foundation is excited about the approval of the first official Horizon 2020 project in which we are actively participating. Being able to explore and demonstrate the utility of IOTA within the smart city context in numerous cities across Europe will be incredibly valuable going forward. The fact that NTNU, Norway’s largest university, is heading this effort is tremendous. We have had a good relationship with NTNU and the municipality of Trondheim for quite some time now, and the Foundation expects this collaboration to strengthen our bond and output. As a Norwegian I am personally ecstatic about this project.”
This is a very important large scale project and it is about time IOTA (MIOTA) showcases its real world capabilities. This is a testing ground that will make or break the platform. The success of the project will mean mass adoption and more small and large business will come knocking for real life solutions for their businesses.