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The last year is called a year of cryptocurrencies. Overall, in 12 months the total capitalization of virtual currencies has grown by more than 3300% from $18 billion to $613 billion. Despite the fact that the cryptocurrency market was burning with fever at the beginning of 2018, the result it showed in 2017 is considered the best in the whole history of the restricted assets class. Continue reading Reevaluation: which cryptocurrencies are worth investing in 2018?
With bitcoin, ethereum and other big name digital currencies regularly making the news for their role in controversies and developments, it is often easy to overlook the rest of the cryptocurrency market, even those rising in prominence like as IOTA. With a market cap of around $5 billion, it is currently the eleventh most valuable cryptocurrency. Unlike others, however, IOTA has its own unique spin on the blockchain tech, called Tangle. It is also able to boast zero transaction fees. In recent times, IOTA’s heritage in the German capital has clearly attracted several indigenous companies with deep pockets. For instance, the Chief Digital Officer of Volkswagen Group, Johann Jungwirth, is one of the board members of the IOTA Foundation. Bosch Group, through its venture capital arm, RBVC, has also invested an undisclosed amount and works closely with the foundation. When interviewed by Bloomberg, IOTA co-founder Dominik Schiener shared his belief that with these new partnerships, IOTA is heading for the “next growth cycle”. There are also rumors circulating in the crypto community surrounding a possible smart contracts-like feature in IOTA. Setting up multiple offices around the world, including ones in Canada, Japan, Norway and South Korea, is perhaps in anticipation of explosive growth following these changes.
Bosch is a 131-year-old company, yet it’s on the cutting edge of crypto and IOTA’s tangle-style platform. Clearly, the firm desires to go deeper into data rather than stick to its old business model and profit from hardware. Selling data is the future and Bosch views IOTA and autonomous cars as a great way to collect micropayments and information. Add this to the fact the city of Taipai, South Korea is set to use IOTA to turn the city into an app-driven smart city. Its obvious IOTA is really making some waves. IOTA’s data marketplace has been in the making since 2015. Around the same time, IBM spent $2 billion to acquire the Weather Company. The sole reason for the purchase was to get access to data.
Taipei, Taiwan is seeking to become a smart city by utilizing the power of Distributed Ledger Technology (DLT), or Blockchain. The city has chosen to partner with IOTA, the inventors of the so-called Tangle technology for the Internet of Things (IoT), to provide a number of new technology features for residents.
Wei-bin Lee, Commissioner of the Department of Information Technology in Taipei City Government, suggested in an official press release that the ‘unique technology’ offered by IOTA will usher in a ‘new era of smart cities for the citizens of Taipei’.