TheEuropean Union is very supportive of new technologies, as can be seen in the recent resolution of the EU parliament on DLTs. This resolution outlines the potential use case of DLTs and how they can impact on society. The support that the EU parliament has shown for cryptos will have a positive effect on the long-term growth of individual cryptos. One crypto that stands to reap big from the positive environment in the EU is IOTA (MIOTA). This crypto stands to benefit from this environment for several fundamental reasons.
Firstly, this positive environment makes it easy for businesses within the EU to work even better with IOTA. So far, IOTA has been working with a number of major companies within the EU, especially in the automobile industry. In essence, now that the EU parliament is supportive of this technology, the partnerships will get even stronger. IOTA (MIOTA) could gain even more partnerships especially in the field of sustainable energy, an area that the EU is keen on. This will positively impact on the value of IOTA (MIOTA) going into 2019.
On top of that, this resolution by the EU is a validation of what IOTA is doing. Part of the resolution states that DLTs could transform areas like transport, through verification of driving distances, smart insurance among others. These are areas that an IOTA use case is already developing. Just recently Biotasphere showed the potential of the IOTA tangle in the car insurance industry, in a move that could cut up to 70% of the costs in this industry. The fact that the EU parliament touches on this as a use-case for DLTs could trigger insurance companies to start testing it out. Since IOTA already has a proof-of-concept in this industry, it then follows that IOTA (MIOTA) could make a huge showing in this market, and related industries.
On top of that, these resolution by the EU will draw in more investors into crypto, and IOTA could benefit immensely. There are lots of investors out there who still don’t believe that cryptocurrencies are a real investment. However, with the approval of the EU parliament, many especially, the older generations, will have more faith in cryptos. As money flows into crypto within the EU, IOTA could take a good chunk of it, given that it already has a huge market presence in this market. For instance, thanks to its presence in the German market and the partnerships it has with German companies, this could sway the older generations in the EU ton invest in it, ahead of the other cryptos.
Once this money starts flowing in, IOTA (MIOTA) will push up the value going into the long-run. The above factors actually make it one of the best crypto investments at current prices. IOTA (MIOTA) has a realistic chance of surpassing its all-time highs. That’s because it now has a growing number of partnerships and the regulatory environment is getting better. It’s the coin to watch in 2019. Even double digit valuations are possible in the medium term.