Galactik Views, ‘Crypto Race – The Future Winners’, is a dedicated series where GV will cover the upcoming winners of the Private Digital Coins & Tokens. In the fourth edition of the series, we discuss, why IOTA (MIOTA) has a potential to emerge as a winner.
Few protocols will help in development of community’s solution for mitigating the challenges surrounding the World. Some of these protocols will help in operation of large-scale public infrastructure solutions related to health, education, etc. IOTA is one such protocol. For transacting value on the IOTA distributed ledger IOTA token (MIOTA) is used. IOTA protocol enables exchange of value as well as data without any fee. IOTA has re-engineered the distributed ledger technology by building the network where humans and machine can interact. It represents Internet of Everything.
IOTA will be the backbone of Internet of Thing (IoT), enabling feeless micro transaction and does not have limitation on scalability side. The next Industrial Revolution will bridge the gap between human and machine-based economies and IOTA is poised to play a centric role by providing breakthrough innovative solutions built on its protocol.
European Union is progressively supporting the Block Chain based Infrastructure and The European Blockchain Services Infrastructure (EBSI) is one big initiative in this direction. The EBSI initiative is aiming to lay Blockchain platform for Europe for multiple uses. Under this initiative public services across the European Union will be digitised through network of blockchain nodes and for achieving this objective, EU has selected IOTA Foundation as one of the key contractors for building breakthrough innovative solutions for enabling blockchain based services across Europe.
IOTA records exchange of Data and Value on its Tangle Network. Transactions are confirmed within few minutes and its network is robust and resilient against attacks. IOTA has advantage of scalability, interoperability beside being open, decentralized and permissionless. Europe has stringent data protection rules. Data protection rules operate at European level as well as individual member state level. IOTA has the features and functionality to support permissioned environments, which makes it suitable for meeting the compliance requirement. Further IOTA’s feeless and scalable functionality supports data and value transfer in a frictionless way.
IOTA protocol has the functionality to meet the requirement related to managing educational credentials, digital identification, financing solution, audit trail, transaction traceability and support wide variety of transactions between Government, Citizens and Enterprise. IOTA has partnered with Cambridge-based AI firm Fetch.ai, has partnered with IOTA for building open-source distributed ledger, focused on IoT. IT has partnered with JLR, Dell and many other firms for building business solutions.
OTA’s tamper-proof distributed ledger protocol can be used for building Integrated, Transparent & efficient supply chain solutions by simplifying the collaborations between parties to transaction which includes Government, Corporations and end users. It has breakthrough innovative solution for mobility. IOTA wallet has been implemented by Jaguar Land Rover in I-Pace vehicles for making payments e.g. for parking and tolls, receiving payments for selling data etc.
Similarly IOTA is providing numerous solutions build around Customs & Border Management, Digital Identity, Smart Cities, Industrial IOT, EHealth. IOTA tokens can be freely traded on most major digital asset exchanges e.g Binance, Bitfinex, Bitvavo, Bitpanda, upbit, Indodax etc
World is moving towards a new Industrial Revolution and Carbon Neutrality. The recent pledges made in COP26 makes it evident that World needs solutions for mobility, smart cities, digital identities etc. Internet of Thing (IoT) and Internet of Everything will play a centric role in the future. IOTA will be one of the beneficiaries of development in the de-centralised ecosystem.
At the time of writing, IOTA (MIOTA) is trading at $1.43, with a market cap of approx.$ $3,974,554,925 (Coin supply: Approx. 2.78B coin). Market cap on fully diluted basis will be $3,981,927,952 (Coin supply on fully diluted basis: 2779530283 coin)
(Source: Coinmarketcap.com)
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Author: Anunay Kumar
Anunay is a well-rounded digital professional with 17 years of experience. His most recent stint had been with Creative Galileo (A fun n learn Ed tech startup) as Co-Founder and Head of Products. Anunay is passionate about latest technology which can bring change and add value to human lives.
He is reachable at anunay.kumar@onmail.com
Disclaimer: Views, thoughts, and opinions expressed in the text are personal, and not necessarily to the author’s employer, organization, committee or other group or individual.