Yesterday, the IOTA foundation announced the formation of the IOTA research council. This council which is made up of academics will oversee the interaction between academia and industry, among other issues. Here is a more detailed profile of the role of the IOTA Research Council.
“The IOTA Research Council will work closely with our research department to set the strategic technological direction, provide academic oversight to IOTA research, assess and grant funding to academic partners, and oversee collaboration with academia and other research organizations. The Research Council will consist of distinguished academics that are at the forefront of their area of expertise. It will not only provide invaluable input to the research strategy and initiatives but will also oversee the quality of our research to ensure high academic standards.”
The formation of this council points to the maturity of IOTA, and its preparation for the next phase of cryptocurrency growth, which is large scale adoption. This council will play a role in the adoption of IOTA (MIOTA) in the following ways.
First, by assessing grants, it will ensure that only worthwhile projects get IOTA funding, to increase chances of growth. When projects that have the potential for mass adoption get funded, they will gain prominence in the media, and help in looping in more companies to start using IOTA. This could create a chain reaction that will add to the intrinsic value of IOTA (MIOTA) in the long-run.
Secondly, by setting the strategic direction of IOTA (MIOTA), the council will ensure that IOTA stays on the right path to growth, in all its technological developments. This will not only speed up developments, but also ensure that all developments are viable, and in line with what the market needs. Essentially, this means that IOTA is well placed in predicting market needs and factoring them into the IOTA foundations tech developments. This will speed up the adoption of IOTA (MIOTA) going into the future, and drive up its intrinsic value.
In essence, this council is an indicator of the maturity of IOTA in crypto space. That’s because when combined with the other aspects of the IOTA foundation, such as a multidisciplinary team, it is clear that IOTA is ready for business. It is one of the DLTs that stand to dominate business in the coming decade.
This assertion is supported by the fact that, even before the formation of this council, IOTA has been on an uptrend in terms of adoption. So far, IOTA is one of the most adopted DLTs in the market. It has gained partnerships across industries ranging from automobiles, manufacturing to city management. With the right infrastructure such as 5G networks coming in place and more efficient organization at the IOTA team, IOTA’s future in the market is somewhat guaranteed. This makes it highly undervalued at current prices, and well-placed to hit its all-time highs in 2019. It could even outpace those prices considering that its fundamentals are now way better than in 2017. The future is IoT and IOTA has emerged as a dominant player in this market.