IOTA and Microsoft team up for IoT

The first publically accessible marketplace for IoT (Internet of Things) has been launched this week. Berlin-based crypto startup IOTA has partnered with Microsoft, Fujitsu and twenty other companies including Bosch and Accenture to develop a blockchain solution to data monetization via internet-connected devices.

Analysts predict that business-to-business spending on IoT technologies and solutions will reach $267 billion by 2020. More and more devices will create a near-endless stream of data, and the market for data-driven insights is being eyed as a catalyst for IoT growth.

The initiative will allow stakeholders to share and monetize their data in a secure way in a tamper-proof data marketplace via distributed ledger powered by the cryptocurrency. IOTA’s blockchain will distribute the data to countless nodes in order to ensure that integrity and security remain intact.

The altcoin uses a different technique to distribute and decentralize its ledger, unlike standard blockchain technology. A system called ‘tangle’ which claims to offer free transactions and much better scaling opportunities than regular blockchain systems. IOTA co-founder David Sønstebø stated “We are very excited to announce the launch of our data marketplace. This will act as a catalyst for a whole new paradigm of research, artificial intelligence, and democratization of data.” According to its latest white paper IOTA “naturally succeeds the blockchain as its next evolutionary step, and offers features that are required to establish a machine-to-machine micropayment system.”

The marketplace demo will run until January and IOTA stated they will release a series of blog posts to highlight how companies can use the technology and benefit from it. IoT devices connected to the IOTA ledger will allow regular users to sell their data and allow them to access other data streams. A system that facilitates the sharing and selling information from smart devices across the internet may enable people to profit from their own personal data.

IOTA does not require miners which is why the transactions are free, developers and investors are banking this and the rapid growth of IoT to push the crypto technology further. IOTA is currently the ninth largest cryptocurrency with a market capacity of just over $4 billion. Trade volume in the past 24 hours has been around $370 million, and prices have jumped from a range bound $0.4 – $0.6 for three months or to around $1.4. Many altcoins have enjoyed a resurgence in price action following Bitcoin’s monumental climb to five figures and the latest news will only push the price of IOTA even further.

Martin J. Young

Editor in Chief. Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

  • Frederick Coffii

    If this is really it, then I hope it falls in the best interest of the people, users, and the community. Otherwise, it could be another elite move to be in control, regulate and centralize business that’d be just another predicament.

  • Kaede.Chidiebube

    It is a long time before when I read so good news like this. Thanks IOTA, I found out what is DAG technology and Tangle and I it was love at first sight. Next generation, next technical possibilities, next opportunity and of course more value, because $1.4 is still funny.

    • Jan Synek

      Yes, absolutely agree, the DAG technology and IOTA caught my interest, as the solution has many advantages for the large number of transactions Internet of things would need as well as this has great potential outside IoT. Prior to this announcement, it was interesting technology but we were speculating regarding the future. With the partnership with all of the major IoT companies, IOTA has become investment – and based on current value, I see it as investment with great potential, it already started growing, but this is only the begining, the growth potential is much higher, definitely would not be surprised with value of 10 USD in the 2018.

  • eric.lucia

    Looks good news, but I’m curious about further developments. Yes, really interesting names of companies are mentioned in the article, but I’m curious about how it will reflected in the price. That’s what interests me.

    • Ben Bittfleck

      Well, the price is already rising thanks to this and I’d bet it’s just a beginning. With such big companies behind and a great tech like DAG, IOTA can easily be the most profitable coin to hold in 2018.

      • eric.lucia

        We will see, but I think the same. To this moment IOTA buying was the speculation, from now it is the investment.

        • Ben Bittfleck

          Touched $2 already, hopefully we’ll see $5 before Christmas 🙂

    • Longhand

      I’m curious about IOTA price too because I think this price is still very low and therefore it’s a very good opportunity for us for Investment.

  • Arslada

    Yes, IOTA is a really great investment at this time. And still very cheap when is it judged against blockchain cryptos like BTC, ETH etc. Everything around IOTA is still just start of his very bright future.

  • Petr Petrus
  • paparadis

    IoT will grow in next years and IOTA with its partners is a good chance for investing and catching an opportunity to make a good decision about investing and make some profit on it. I think it is deeply undervalued crypto

  • kmxl45

    It is the proof that big companies knows the crypto potential and IOTA do a great job by this way. The future of IoT is clear, it will be everywhere. And IOTA takes this future to its own hands.

  • Axwulph

    ooh, such a nice names…Great job IOTA, you deserve all my money…and I know you will give me much more;)

  • BarTan

    It should also be noted that IOTA and Cardano were the only two out of the Top 10 cryptocurrencies which increased their value agains BTC almost 4 time in the past month, while the others stagnated or declined. However, in the case of IOTA it’s not a big surprise considering the partnerships with such big tech companies.

    • Arslada

      Yes, you’re right. I think the same. IOTA is strong coin in this moment and became more stronger very soon. His price will continue up surely.

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