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IOTA (MIOTA) Boldly Developing with Volkswagen

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IOTA
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IOTA represents one of the most unique assets in the market mostly due to its revolutionary blockless blockchain inspired system called Tangle. Thanks to this unique blockless technology, IOTA is able to showcase all the potential contained in the Internet of Things, promoting IoT as the economic ecosystem of the future.

Although being a pioneer in the mass adoption of digital assets and block technology with having the first crypto charging station for electric vehicles that went live months ago in the Netherlands, MIOTA seems to be having a rough time in the market for the past two months.

Despite the recent drops and the rough time in the market, IOTA seems to be doing great in the terms of taking steps towards further technological improvements, while presenting one of their most recent achievements that came out as a product of IOTA Foundation/Volkswagen partnership – autonomous cars.

IOTA and Volkswagen Present Autonomous Cars

Volkswagen partnership that IOTA has acquired not that long ago maybe stands for one of the strategic moves of the IOTA Foundation that could be marked as crucial for the further integration of Tangle into the real-life purpose.

Volkswagen has recognized a great potential in IOTA’s Tangle, given the fact that MIOTA’s network is based upon DAG, which allows this network to function without the need of blocks or miners.

Volkswagen and IOTA have most recently announced that they will be demonstrating Proof-of-Concept, otherwise known as PoC or even as Proof of Protocol, in order to demonstrate the power of this protocol.

The purpose of PoC on this occasion will be focused on enabling autonomous cars as powered by the network Tangle.

The live demonstration was held at Cebit Expo which was held in Germany a couple of days ago, where Proof of Concept by IOTA’s Tangle showed to be an efficient model for enabling the concept of connected cars with available smart apps that run on a blockless solution as provided by IOTA.

The demonstration showed as truly a success, so Volkswagen stated that they are very positive about using IOTA’s technology in order to create smart autonomous carts that are connected to the Internet of Things.

Volkswagen further added that they will be working with IOTA in order to bring the smart car economy to life, where it is expected to have approximately 250 million vehicles that are to be connected through this process in the course of the next two years.

More from IOTA and Volkswagen

Besides from working together with Volkswagen to enable the development t of the smarty car economy where over 250 million cars are expected to join the project by the end of 2020, IOTA is said to be working on more projects with this company.

Being one of their crucial partners while promoting Tangle as the premium solution for the autonomous car industry, Volkswagen should have IOTA joining Mobile as a Service, otherwise known as MaaS.

Although the project has been confirmed, it is not yet certain when the initial start of the project will occur or when the finishing “product” will be available for the public.

What is known for now is that IOTA might be used as integration for MaaS where its technology would be used for different smart car services that would include making payments, bookings and more.

IOTA’s Citizen Card to come out in 2018

If you take a look at MIOTA’s charts for the last two months, IOTA doesn’t seem to be doing pretty well in the market with having -26% against the dollar in the course of the last two months while losing -36% of its value during the course of the last 30 days.

However, although timid in the market, IOTA seems to be working on new developments full steam. That is how it was announced yesterday on June 15th, that IOTA will be releasing ID Citizen Cards during the current year of 2018.

It was announced earlier this year that the capital of Taiwan, Taipei, will be joining forces with IOTA in order to bring a new system for identification into the use.

With the most recent updates, it has been stated that the citizen cards with a newly developed identification system should become available for the citizens of Taipei during the current year.

The identifications system will be using IOTA’s unique protocol as powered by Tangle, and it will at the same time mark a cornerstone of another successful integration of crypto technology into real life purposes, making identification process simpler and easier.

Taipei is aiming to become a smart city powered by blockchain technology (in the case of IOTA, blockless technology), so in collaboration with BiiLabs, IOTA is working on developing settlement and forensic systems in addition to already having a project called Air Box, which should work on regulating the quality of air in Taipei. Air Box is going to be made in form of a small device that would be installed in multiple homes across Taiwan’s capital.

IOTA Gets another Listing

IOTA has been acting sluggish in the market for the past couple of weeks, but even despite that, this promising asset just got another listing.

As announced by BitPanda and IOTA, the asset has become available for live trading on the mentioned exchange on June 14th.

As stated by BitPanda exchange, IOTA earned its spot as per the request from the users of the exchange platform.

Currently ranked as the ninth-best currency, BitPanda makes one of the 12 exchanges that had MIOTA listed.

During the last 24 hours and despite the latest developments and the most recent listing, MIOTA is still seen dropping against the dollar today by over -5%, while being traded at the price of 1.20$.

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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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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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