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+CityxChange and IOTA Join Forces on a Massive Project Funded by the EU

The European Commission formally invited the +CityxChange team to be part of the Smart Cities and Communities Project. The project in question belongs to the EU Research and Innovation Programme Horizon 2020.

+CityxChange team

The +CityxChange project uses IOTA to facilitate connectivity between devices as a means of promoting “climate-friendly and sustainable urban environments.” Such a large-scale implementation leads to what the team refer to as “Smart Cities”.

The +CityxChange team explains the concept of Smart cities on its official website. The long-term prospects are quite promising, possibly explaining the European Union’s interest in its research and development:

“In the future, municipalities must handle a completely different complexity in society. In order to have well-functioning cities, cities must improve how they utilise their resources and how they engage with technologies in different ways. A smart city will use digital technologies to enhance performance and wellbeing, to reduce costs and resource consumption and to engage more effectively and actively with its citizens.”

The Project has evolved satisfactorily and the experts have positively evaluated it. It not only attracts the attention of technology enthusiasts but has also received significant support from high-level policy makers, universities, enterprises, SMEs, Non-Profit Organizations, etc.

+CityxChange and IOTA: A Great Team For a Better Life

IOTA NonProfit CurrencyThe IOTA team is enthusiastic to see how their network can contribute to the successful development of the +CityxChange project. On the official IOTA blog, the satisfaction of its Head of Business Development, Wilfried Pimienta, is evident:

“Smart cities is one of the fastest growing cross-sectoral arenas of innovation for IOTA. Building on our work and partnerships across mobility, energy or data marketplace, these smart city ecosystems bring it all together. The +CityxChange consortium gathers many public and private partners around an ambitious open innovation and co-creation initiative.”

The consortium project will receive initial funding of 20 million Euros from the European Research and Innovation programme Horizon 2020; however, it is important to stress that this will not be the only source of income for the project.

It is estimated that around 10 million euros could be received immediately from partners interested in the rapid development of such solutions. The project is expected to start on January 1, 2019.

Additionally, The cities chosen for implementation are: Trondheim, Limerick, Alba Iulia, Pisek, Sestao, Smolyan, and Voru.

The chosen cities interconect 7 countries across Europe

It is also important to take into consideration that the project interconects 7 countries all around Europe. It is possible to envision global interconection as IOT evolves into a massive phenomenon just as communications did decades ago.

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Volkswagen, Audi Employees Being Coached on IOTA (MIOTA)

IOTA (MIOTA)–At this point in the bear cycle, stories of adoption are being being met by investors with muffled grunts and outright frustration. Two years ago, cryptocurrency was starved for news of established companies developing partnerships with the coins, or at the very least drawing interest. Despite the downward spiral of pricing for currencies across the market, 2018 has been a year filled with high-profile partnerships and acceptance by companies that will drive real world use.

Among the list of companies to initiate pilot programs with cryptocurrency, IOTA’s partnership with German-based automaker Volkswagen has been one of the largest. While the actual implications of a partnership with a company whose assets total in excess of 480 billion USD has flown under the radar, it comes in part due to the publicity image of VW in the aftermath of 2015’s emissions scandal. The public outside of crypto may see Volkswagen’s partnership with a cryptocurrency that has built ties with the United Nations as an attempt to grab at straws: the language surrounding the most recent VW-IOTA press release slanted in heavy favor of “accountability” and “security.”

However, many within crypto see the natural progression of IOTA, a currency being built to unite the world of IoT devices, and the looming conundrum of fully-automated vehicles. The integration of a cryptocurrency into automobiles not only eases the transition into a driver-less car economy, but plays to the strength of ride sharing and decentralized transportation already made popular by Uber and Lyft.

IOTA’s position with Volkswagen looks good on paper and carries enough influence to constitute a presence at press events, but many investors are still asking the question, “so what?”. Has IOTA managed to capture genuine attention within the automobile world, and are they being taken seriously by their partners at the Volkswagen group, whose holding includes Audi, Porsche and (the ever popular) Lamborghini?

Reddit users would say yes.

About IOTA and VW from Iota

One curious Redditor, u/4745454B, posed the above question on whether the average Volkswagen employee has been given any information about the 2019’s official roll out of IOTA functionality. It turns out, from the small anecdotal sample given, Volkswagen is apparently taking the integration of cryptocurrency very seriously, with the expectation of IOTA functionality to be a selling point in next year’s offering.

As outlined in the Reddit posts, VW is informing employees, particularly those on the sales side of business, about IOTA as an effort to boost branding for the car. While other car manufacturers have announced nascent partnerships with blockchain startups, clearly Volkswagen views its plunge into cryptocurrency via IOTA as an early mover advantage. Blockchain startups and other crypto-lite tech companies may bring some of the decentralized and security benefits popular within the industry, but they lack the established appeal of coins like IOTA. The IOTA Foundation brings mature development within the space, growing partnerships (UNOPS) and the potential for greater innovation, such as Qubic smart contracts announced at the beginning of June.

However, these currencies do come with reputation. The 70-90% plunge in valuation since last all-time high has given cryptocurrency, including IOTA, the appearance of extensive volatility and uncertain profit. But largely for investors. The VW Group loses nothing from the plunging price of IOTA; they gain all of the utility of cryptocurrency with none of the exposure to price. Remember that crypto may be made up of currencies, but they are technologies at their base which can be used like any other tool.

The volatile price of cryptocurrency can scare away the shareholders of an Amazon or Starbucks, but Volkswagen has everything to gain by partnering with the next stage of innovation to hit the automobile industry.

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IOTA and Volkswagen to Show Proof of Concept Project on CEBIT 2018

IOTA is moving forward on its way to becoming the evolution of blockchain. Not only because of the concept it implies, but also because of the significant advances, it has made. One of those advances (a PoC project with Volkswagen) will be shown on CEBIT 2018

The future of the Internet of Things seems to be on the way to global adoption. On June 9th, Johann Jungwirth, Chief Digital Officer (CDO) of Volkswagen Group published a tweet confirming the progress in the implementation of IOTA for the automotive industry:

The plan is for Volkswagen to use IOTA’s Tangle in a proof-of-concept stage to connect its automobiles to the network through a shared protocol:

IOTA seems to point to the dominance of a market that other traditional DLTs are not covering. Also, IoT could be very lucrative once its advantages are massified. The statistics speak of an estimated of over a quarter billion connected vehicles on the road by 2020:

Gartner has predicted “a huge increase in connected automobiles over the next five years. By 2020, there will be a quarter billion connected vehicles on the road, enabling new in-vehicle services and automated driving capabilities”

Volkswagen is an essential partner for the development of IOTA, so much so that Mr. Jungwirth, besides working for VW is also a member of the IOTA’s advisory board.

CEBIT 2018: A Great Oportunity To Expose IOTA’s Potential

The preliminary results of this joint work will be presented at CEBIT 2018, an event taking place from June 11-15. According to their twitter, the team behind the event promote it as “Europe’s Leading Business Festival for Innovation and Digitization.”

The partnership with Volkswagen is of particular interest to both the world of blockchain and the world of motorsport. The Volkswagen group owns several prestigious car brands such as Audi, Bugatti, Bentley, Cupra, Italdesign, Lamborghini, Porsche, Scania, Skoda, SEAT, among others.

Also, Johann Jungwirth has been quite enthusiastic about the future of the industry thanks to the technological development driven through the Tangle protocol:

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The Volkswagen demonstration on the CEBIT 2018 is scheduled for June 12. It is expected that in the short term the behavior of the IOTA token will recover despite the strong bearish trend of the cryptomarkets in general.

However; even though this is the expected course of actions, the volatility of cryptocurrencies defies all predictions (both bullish and bearish)

Currently IOTA is quoted at a relatively stable value between approximately 1 and 2.2 dollars per token. A not insignificant figure that places it in the Top 10 of coinmarketcap, fiercely competing with Tron (TRX) with whom it has exchanged positions repeatedly throughout the year.

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Team Opens Up, Calls IOTA (MIOTA) Qubic A Smart Contract For Micro-payments

Against many interpretations given to Qubic by IOTA (MIOTA) enthusiasts, IOTA team has opened up on what the latest technology is, indicating that most of the pictures given to the innovation seem not to be in line.

On the 3rd of May, IOTA announced the birth of Qubic in a tweet: “We are moving rapidly towards the next epoch of IOTA, today the IOTA Foundation is excited and proud to start the official unveiling of Qubic.”

However different interpretations surfaced, with different theories pointing to a Medium blogger, whose earlier interpretations of the tech was deleted on Reddit. The blogger deeply enlightened insight enthusiasts in his Dec 6, 2017.

The blogger linked Qubic to JINN tokens due his claim that the innovation is affiliated to programmer Sergey Ivancheglo nicknamed Come-from-Beyond (CFB), stating that he intended created a technology named codenamed ‘Qubic’.

In an article, CFB explained what Qubic stood for, stating that it is very close to Bitcoin, however, it stated that the technology does not rely on blockchain technology. The technology “specializes in JINN-based IoT gadgets,” he stated in a post.

To kill all speculations, the team behind IOTA have opened up, saying Qubic is a protocol that specifies IOTA’s solution for oracle machines, smart contracts, outsourced computations, and more.

According to the team, “Qubic has evolved over time into something markedly different from the original Quorum-Based Coin idea coined on bitcointalk September 2012,” stating that the most clear difference between the two is that there now exists a working protocol to serve as the messaging and payment system: “IOTA”.

Of a truth, IOTA team explanation on what Qubic is revolve around the information available on Bitcoin Talk Forum, but the piece of info does not expatiate the tech use cases.

In this wise, the team clarifies that Qubic is not a new token or coin and there will be no Qubic ICO or airdrop.

It states that the original Qubic idea had some hard to overcome problems, but the IOTA protocol solves all those problems, making IOTA represent the global standard for IoT messaging and payments.

To add to the awesomeness of Qubic, the team reflects that Qubic is a way to safely communicate with the outside world in a trusted environment, and it is a powerful, distributed fog computing platform for building complex IoT applications.

It went ahead that the innovation is a new type of smart contract that collects micro-payments in real time, and a reward system for incentivizing honest participation in the Tangle.

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IOTA (MIOTA) Partners With Norway’s Largest Bank, Edges Out TRX In The Market

The IOTA project and coin have been having a good week in terms of partnerships and crypto-market performance. With respect to the former, IOTA (MIOTA) recently sealed a deal in the form of a partnership with Norway’s largest bank DNB ASA. With respect to market performance, IOTA has been on a constant rally since Tuesday, May 29th, and has since edged out Tron (TRX) from the number 9 spot on coinmarketcap.com.

The partnership announcement with DNB ASA was made on the 31st of May and includes both companies exploring ways to implement new technologies and processes with the IOTA Tangle being the centerpiece of the solutions. DNB, being the biggest bank in the country of Norway by market capitalization, deals in the traditional arenas of investment banking, corporate banking and international markets.

The Head of Distributed Ledger Technology at DNB, Lasse Meholm, had this to say about the partnership:

As Internet of Things (IoT) and Machine to Machine (M2M) communication and payment for microservices seem to escalate in the future, we think engaging in a Distributed Ledger based technology like IOTA gives us valuable experience and know-how on future revenue streams and business models. We are looking forward to dive into the IOTA space.

Norway has always set an example in terms of technology adoption and using such technologies to enhance the lives of its citizens. This partnership shows just how committed the country is in embracing emerging blockchain technologies.

With respect to market performance and as earlier stated, IOTA has had an impressive rally from the 29th of May amidst news of another partnership with a key logistics firm linked to the United Nations. IOTA has risen from levels of $1.35 on Tuesday, to current levels of $1.93. This is a 43% increase in less than a week!

As a result, IOTA has edged out TRX from the number 9 position according to coinmarketcap.com. The difference in market capitalization between the two cryptocurrencies is now approximately $1.4 Billion. Tron seemed to have the momentum going and leading up to the MainNet launch on the 31st of May. But history repeated itself during the livestream by Justin Sun. The token dropped by 7.8% in 1 hour during the event.

In general, the crypto-market has regained much needed volume from the recent lows experienced on Tuesday, the 29th of May. All fingers are crossed that this uptrend will continue into the month of June.