IOTA (MIOTA) – Connecting IoT with Social Media is a possibility – BiiLabs

IOTA (MIOTA) – Connecting IoT with Social Media is a possibility – BiiLabs

IOTA (MIOTA) – Connecting IoT with Social Media is a possibility – BiiLabs

Yesterday, Lman Chu, BiiLabs co-founder, tweeted a very empowering statement for IOTA (MIOTA), by saying that their social media platform, which counts with more than 10 million members could migrate to a DLT (Distributed Ledger Technology). On top of that he also stated that the key partner for them would be the IOTA Foundation, so they could base their social media on the IOTA token.

This is huge news for IOTA specially because people sometimes forget that IoT (Internet-of-Things) is a concept that is deeply connected to the people and it’s not only about connecting devices between each other. IOTA will benefit a lot from this if it actually comes true simply because the Tangle is empowered by the growing number of transactions, and 10 million users would make this network climb rapidly in terms of use, which would then increase its security.

IOTA (MIOTA) has had a great year so far, after registering in Germany as an official Foundation, a lot of partnerships started to surge such as Fujitsu, Bosch and many others.

Blockchain Innovation Center in Brussels

Fujitsu partnership has already started to pay out for IOTA (MIOTA) since soon we’ll be able to visit the Blockchain Innovation Center in Brussels, led by Fujitsu that will serve as an incubator for blockchain-based projects. On the announcement for this Innovation Center they also mention IOTA to be one of the projects that they believe the most and intend to implement the Tangle for the Industry 4.0.

This project will run from January 2018 until December 2020 and the major focus will be exploring the concept of IoT and smart cities and increasing security in these processes. The Blockchain Innovation center already counts with the presence of 300 workers in Europe and some skilled collaborators from Japan.

This led to a lot of visibility by other projects. One of which is the Cobinhood platform, one of the big competitors of Coinbase, since they are starting to implement crypto trading. Announcements were made saying that IOTA (MIOTA) and NEO (NEO) would be implemented in April, and that it is a work in progress. The reason stated for bumping IOTA on the watchlist was Taipei’s plan of evolving into a smart city using IOTA.

Market Analysis

It isn’t the first time that IOTA brings good news such as the ones I’m bringing here, last year a DLT Research & Innovation Center was started in Oslo, Norway that focuses on developing a platform for eHealth based on the Tangle.

This initiative was founded by IOTA (MIOTA) in collaboration with Oslo Medtech, Oslo Cancer Cluster, NTNU CCIS and Alpha Venturi which played the role of network manager. I’m referring these past events because this was around the time that IOTA (MIOTA) started to climb last year from $0.15 USD, on the 17th of July, to up to $1.09 USD on the 17th of August.

I personally expect that IOTA (MIOTA) will have great things to show for in 2018 and the visibility that it’s gaining is remarkable, if we take a look at the avid readers in the IOTA subreddit we see that it has 100,000 readers, which is more than Cardano and EOS, two coins that are above IOTA on coinmarketcap.com.

Currently the market is still dropping, but for the avid readers this is not bad since it’s a great time to invest. I already covered in a previous article the reasons I think that are behind the market dropping which are diminishing public interest and sell walls by traders. With that said, the metrics point in one direction now, which is up, the public interest according to google trends has stabilized which means that prices should too.

Once that happens we’ll begin to sail in the right direction again.

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