Altcoins

IOTA partners with Nova to launch seed fund for distributed ledger startups

from The Bitcoin News 5 years ago 0 0 663

IOTA has struck deals with Robert Bosch, launched a data marketplace with Microsoft and Samsung, and is testing a smart city program. The foundation’s protocol is attractive because it allows automated micro-transactions between devices and is being adopted in industries such as health care, mobility, supply chains, energy, and telecommunications.

Now it wants to also focus on encouraging more startups to embrace its protocol via the new program with Nova.

“The Tangle network overcomes many of the limitations and inefficiencies of blockchain technology and, as such, has huge potential to transform machine to machine transactions that are at the core of IoT,” said David Sønstebø, cofounder and co-chair at IOTA, in a statement. “Our partnership with Nova is about enabling that innovation by helping initial ideas come to fruition in the form of viable, scalable, and sustainable business models.”