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IOTA Keeps Making Friends with Large Companies

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As more and more large companies are becoming interested in the blockchain technology, they keep choosing IOTA as their blockchain research partner. The recent additions to IOTA’s partnership list include Volkswagen, as well as Japanese ICT conglomerate Fujitsu.

Volkswagen wants to bring blockchain on the road

Volkswagen has become known as a large supporter of the blockchain and crypto industry, and their partnership with IOTA is no secret. Right now, the carmaker is researching the new technologies in an attempt to find the way to make it improve vehicles and roads alike. Earlier this year, they confirmed working with IOTA in order to bring the blockchain on the road, and their recent tweet states that they are working hard on providing their customers with super-safe cryptosystems.

VW is currently exploring all areas of blockchain while trying to find all possible use cases that would tie their business to this technology. Many believe that the carmaking industry can benefit from this tech the most, via vehicle servicing, tamper-proofing, and even improving on the self-driving aspect.

The company’s IT Group has been exploring various concepts and potential benefits of implementing the blockchain technology, and have been discussing this with over 300 employees. With the self-driving cars quickly becoming a reality, and cars becoming more and more digitized, it is imperative that they are properly protected from hackers and any type of meddling with the vehicles’ systems.

These are the troubles of modernization, but VW firmly believes that IOTA’s blockchain has the potential to bring solutions that would eliminate this kind of concerns. The partnership was originally announced as far back as in January of this year. If the research bore fruit, this would mean massive progress for all 12 motoring brands that the VW group consists of. Those include Porsche, Lamborghini, Audi, Bentley, Bugatti, and more.

Fujitsu claims IOTA is a new protocol standard for audit trails

Another significant development for IOTA includes the Japanese firm Fujitsu, which has announced the launch of a new PoC, based on IOTA, and created for audit trail processes within the manufacturing industry. The new notice states that IOTA’s protocol will be used as a data storage medium for the audit trails. The goal here is to largely improve data security, data trust, as well as transparency of all processes.

The Program Manager at Fujitsu’s Industry 4.0 Competence Center from Munich, Leopold Sternberg, stated recently that the partnership would allow IOTA to become a new protocol standard. According to him, IOTA is perfectly well-equipped for this task, since it has a lot of experience with manufacturing industries, as well as in ICT services.

Through a joint effort, the two are hoping to bring a solution for supply chains and industry 4.0 manufacturing, both of which are facing data-related challenges.

Additionally, the notice describes a newly-proposed cryptographic ID system that would be used for various product components. The system would also keep track of the status of their production through a connection with nodes located on IOTA’s Tangle protocol, but hosted by Fujitsu itself.

Tangle is a new type of DLT, different from blockchain itself since it doesn’t use mining or blocks. Instead, it is built directly on a DAG (Directed Acyclic Graph). Basically, different kinds of transactions go on different chains at the same time.

The announcement of IOTA’s collaboration with Fujitsu has already reflected on the crypto’s price, which went up significantly since the partnership was first announced on August 25.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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