IOTA [MIOTA]’s developmental focus against cryptocurrency price splits user base

IOTA [MIOTA]’s entry into the field of automobiles was met with some trepidation after the IOTA Foundation released a paper titled “IOTA Feasibility and Perspectives for Enabling Vehicular Applications”. Holders of MIOTA, as well as cryptocurrency enthusiasts, had a few qualms about the cryptocurrency which has been seeing a downward trend over the past two weeks.

LeonBep, a Reddit user commented:

“I just wish the Foundation would do something about the adoption and prices rather than all this bulls**t. don’t we have Tesla for driverless cars?

Tommy Yuo, another Reddit user stated:

” Don’t really understand why people are so p**sed! IOT has to happen one day or another. this is definitely great news.”

At the time of writing, IOTA was falling at the rate of 0.24% and was trading at $0.566. The research paper published by the Foundation basically entailed plans to integrate the up and coming industry of automated cars with blockchain technology and cryptocurrencies. The basis of the development is to create a network of functioning digital entities, all linked to the Internet of Things [IOT]. The published document states:

“Vehicles became autonomous and (wireless) communications have evolved to provide connectivity with the quality of service and flexibility tailored to enable such applications. The future of transport and mobility will surely be enabled by autonomous vehicles encompassing sensing capabilities that can cooperate with each other and share their sensing resources and perspective with the nearby infrastructures and neighboring vehicles.”

Reports have also suggested that the IOTA Foundation has been venturing into the creation of different forms of privacy architectures, all based on the Internet of Things [IOT]. This use case was also utilized by Fujitsu, with the Japanese behemoth integrating the IOTA protocol with its developmental procedures. The company stated:

“Product quality is a critical success factor for the Manufacturing Industry. Assembled products can consist of hundreds of components and their production is based on complex processes. For audit trails in industrial production environments and supply chains, IOTA provides a single source of truth.”

IOTA’s rampant march to establish IOT as a primary foundation for the digital age was made evident when the cryptocurrency company partnered with ENGIE Lab Crigen. ENGIE is known for its projects in the field of gas and energy resources, a field that IOTA aims to tap.