IOTA Price Explodes Beyond $0.40 After These Recent Partnerships

IOTA (MIOTA), the unique DAG-based cryptocurrency that’s poised to revolutionize a new transactional settlement and data transfer layer for the Internet of Things (IoT), explodes beyond $0.40 as the project gains newfound credibility from an array of partnerships.

After starting the month at just $0.26, IOTA has already reached a high of $0.45 and is currently sustaining its massive price increase above $0.40.

Image Source: https://coinmarketcap.com/currencies/iota/

IOTA is Bullish Following These Partnerships

IOTA’s array of partnerships are finally beginning to reflect on the price as people realize the significance of these partnerships and see the potential of IOTA becoming the cryptocurrency used to power the Machine Economy.

IoT and the Automobile Industry

In April of this year, IOTA’s partnership with Jaguar (the luxury automobile manufacturer) has come to fruition with the announcement of new software being developed that rewards drivers with MIOTA for sharing data– such as traffic congestion or the presence of potholes.

Jaguar is developing an IOTA smart wallet to be installed in their cars where drivers can earn tokens and use them for paying tolls, parking, and charging of electric vehicles. This partnership along with IOTA’s VW partnership is setting IOTA up to be a big part of the automobile industry and the IoT.

Furthermore, another automobile giant collaborating with IOTA is Ford, as they visited IOTA’s Industrial Lab Aachen (IILA) to discuss a proof-of-concept that IOTA had developed.

Other Big Partnerships

Apart from partnering and collaborating with many of the big players in the automobile industry, IOTA has also partnered with entities in other industries.

For instance, back in April IOTA partnered with the city of Austin, Texas to improve the city’s transportation system. Though very few details regarding this partnership have been revealed, if whatever they’re working on goes well, IOTA could spread to other cities as well.

Another recent IOTA partnership is with the luxury giant and global manufacturing company, Avery Dennison to create a more sustainable and ethically-sourced industry by improving the company’s supply chain.

All in all, IOTA has many partnerships that are beginning to develop and experiment with IOTA’s unique distributed ledger and the price is just beginning to reflect that.

When will the first IOTA application be running live? Which partner will deliver it first? Let us know what you think in the comment section below.