IOTA is a crypto technology that is aimed at powering the Internet of Things (IoT) future. IOTA is not based on the blockchain, instead, it is based on the Tangle technology. The Tangle technology enables transactions to be free and allows for infinite scalability. The cryptocurrency is aimed to be the currency with which smart machines communicate with each other in the near future.
IOTA has gathered a lot of interest from major tech and auto companies since its launch in 2015. Some of these companies include Microsoft, Audi, Volkswagen, Porsche, BOSCH, and Fujitsu. In the past, announcements of these partnerships and collaborations have resulted in spikes in the price of MIOTA. For example, in December 2017 when the news about the Microsoft collaboration first came out, the price of MIOTA surged by 500%.
IOTA Q1 2019 Collaborations
The year 2019 began on the back of the crypto bear market that rocked 2018. While the price sentiment was low, sound projects continued to make fundamental progress on the solution being created. Here are a few of the most prominent.
IBCS Group
For IOTA, 2019 began with the announcement of a partnership with IBCS Group on January 8. The company intends to use the Tangle technology for Track and Trace Supply Chain Solutions. The ibcsTracker by IBCS Poland uses the IOTA tangle to collect and share on logistics carriers. Hence, the tracker is immutable and secure, and requires simple integration with data management systems.
The chairman of IBCS Group, Brian Marcel, has this to say about the partnership:
“We first developed the IOTA Powered solution in Poland but the next step is to expand to our other countries across Central Europe. Ultimately, our goal is to provide all IBCS Group customers with a better understanding of where key assets exist in the supply chain, driving greater efficiency and strategic management of their assets.”
Crypto Storage AG
Crypto Storage AG partnered up with IOTA Foundation to offer a professional storage solution for the MIOTA cryptocurrency. The announcement was made on January 9, 2019. Crypto Storage AG became the first platform offering multi-signature storage solution for high volumes of MIOTA tokens.
This partnership creates a platform that enables large private and institutional investors to access their MIOTA tokens securely. The CEO of Crypto Storage AG, Stijn Vander Straeten, has this to say in a press release:
“Crypto Storage AG is proud to support the IOTA platform with our top-tier infrastructure, as we see rising demand with our clients and IOTA’s industry partners to enable the IOTA token without compromising on security.”
Co-founder of IOTA, David Sønstebø, also spoke about the partnership:
“Keeping data secure with infrastructure from Crypto Storage AG will contribute to the development of these concepts and the IOTA Foundation’s vision of supporting a machine-to-machine economy”
Energinet
Energinet signed a Memorandum of Understanding with the IOTA Foundation to experiment with the IOTA Tangle. The MoU was signed on January 30, giving Energinet the impetus to explore the possibilities of IOTA in the energy market domains.
Nova
On February 18, IOTA announced a partnership with Nova, a cofoundry to launch seed funds for DLT startups. This partnership aims to enable aspiring tech entrepreneurs to develop new businesses using IOTA.
Andrew Dean, Head of Partnerships at Nova, said:
“We want to make sure that IOTA entrepreneurs have the best possible chance of success. Some of the most exciting technological developments of our time are fueled by IOTA technology, and we’re looking forward to playing a part in bringing some of those ideas to market.”
Others
The CEO of SafeBikely, Hallvar Bergh, shared on Twitter about possible IOTA integrations on their product.
A snapshot of our IoT bike lockers for smart cities at birth. #safebikely #iot #IOTA #bikelockers #SmartCity #SmartMobility #sykkelskap #SDGs pic.twitter.com/Vub4PL0KEq
— hallvar bergh (@HallvarBergh) January 18, 2019
Paracosm gaming platform announced the use of IOTA technology, which the platform claims uniquely satisfies its needs, including scalability, digital-to-physical transactions, decentralization, and prevention of threats from Quantum computers.
Conclusion
IOTA is different from other crypto projects because of its unique features, in particular the Tangle technology, which offers immunity to potential threats of hacking by quantum computers. Top companies working on IoT don’t want to be left behind on a possible collaboration that can change the financial landscape around IoT devices. This gives a reason to be optimistic about IOTA and its cryptocurrency, MIOTA.
More partnerships are expected by the IOTA to further improve the valuation of MIOTA. Also, a detailed framework of collaboration will be expected by partners yet to have one. IOTA seems to have a bright future, but only time will tell how it will unfold.
