IOTA (MIOTA) is performing poorly at the moment, but that’s the picture all around the market. For some investors, panic may set in. however, it’s no cause for alarm as the expectation is that the market will recover and with it IOTA prices.
In other words, the current dip could be an opportunity to load up on some more MIOTA. 2018 is expected to throw in some surprise price movements and one of those predicted to do well is this crypto. In fact, it could be doing beyond $5 by the time the year comes to a close. What events could be a trigger for MIOTA to skyrocket?
The Machine Economy
Over much of 2017 and 2018, the IOTA Foundation has made strides in getting some high profile partnerships. All these industry giants have the ability to trigger an IOTA revolution by integrating the coin into their everyday use cases. From Microsoft to Volkswagen and Bosch, Fujitsu among others – the top of the ladder companies that are closely moving into mass utilization of the IOTA Tangle. These are the companies that could drive the machine economy.
One of the many Tangle products that are about to make IOTA a big player in the industry is its Data Marketplace unveiled late last year. It has the potential to completely transform various sectors of the economy. According to ICE Labs:
A breakthrough in the collaboration over the data marketplace could set MIOTA towards global use, and that looks like happening soon.
Real world industrial use of IOTA
In early March 2018, German University RWTH indicated that it had plans on how to implement IOTA for industrial use cases. It sought out academicians to join the institution to begin building on the Tangle. It’s just an illustration of what the world is thinking of IOTA’s platform. Apart from that, at this year’s Hannover Messe industrial trade show, IOTA founders revealed that10 companies would present IOTA use cases. They included Bosch, Fujitsu, Accessec GmbH, Pass, DXC and Deutsche Telekom.
To put another way, Volkswagen and Bosch together represent about 40% of all the global patents in relation to automated driving. They are exploring ways to integrate IOTA’s technology in the Internet of Things into any future productions. Its common knowledge that the world is moving towards a machine-to-machine economy and Distributed Ledger Technology (DLT) will be at the center of these.
These aren’t just partnerships to serve as placeholders in case good tidings happen. The companies have vast interests and the use of MIOTA in all of the applications could skyrocket its value sooner than later.
Qubic and Smart contracts on the Tangle
IOTA will soon release details of its Qubic project. It has been hailed as a game-changer. This is because it will have Oracles as well as outsourcing computing power. These efforts combine with the recent revelations that the platform could be geared towards smart contracts. The use of IOTA’s infinitely scalable network that also offers feeless and faster transactions could simply be a game-changing event. It could mean the likes of Ethereum, NEO and Lisk would need to up their game to keep up with IOTA.
Imagine a host of smart contracts involving such varied use cases as smart energy, ehealth, mobility and automotive industry, trade and supply chains among others. What makes these even more feasible is the fact that IOTA has partners in all the sectors- all working to reach adoption levels?
MIOTA added to Coinbase
As the remaining global exchange yet to list MIOTA, Coinbase has a lot to think about. The reason advanced that the coin couldn’t get listed had to do with its Trinity wallet. That issue has been resolved and the wallet is working just fine. IOTA is also back in the top ten on CoinMarketCap and meets the threshold of requirements for listing. There has been speculation that it was being considered in 2018. At the current price of $1.86 against the US dollar, the coin’s value could move to within the $5 range just with Coinbase’s listing.
IOTA (MIOTA) currently trades at %1.86 against the US dollar, dropping by -4.73% in the last 24 hours. It’s also in double digits down at -18.59% over 7 days. Its ranked 9th and has similar bearish trends like the rest of the top ten coins. However, as the market looks towards a recovery after Consensus 2018, IOTA could be one of the coins that will have a bullish summer, and a great 2018.