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IOTA’s new business models will overshadow Bitcoin’s price speculation

  • According to Wilfried Pimento de Miranda, IOTA’s innovative approach and new business models will overshadow Bitcoin’s price speculation. 
  • IOTA partnerships will contribute to the creation of sustainable ecosystems.

In a recent interview, IOTA Business Development Director Wilfried Pimento de Miranda talked about the IOTA ecosystem, its use cases, and business models. The interview focused on the publication “IOTA Foundation: Building a Minimal Viable Ecosystem for Smart Cities”.

In the interview, de Miranda emphasized the growth that the IOTA ecosystem has had, driven by its collaborators. From developers to researchers and academics, the IOTA business director mentioned some of the cases in which these collaborators are working.

Use cases based on IOTA and new business models

First, de Miranda mentioned that STMicrolectronics is using IOTA in its IoT stack. Moreover, Dell Technologies and the Linux Foundation are developing a “Trust Fabric” to ensure transparency and enable a system where data can be shared without trust. In addition, IOTA’s Business Director talked about the cooperation with Jaguar Land Rover and the construction of a portfolio that will allow car units to share data and make micro transactions.

The use cases mentioned are part of an ecosystem encompassed in an intelligent city model. In that sense, de Miranda emphasized the Horizon 2020 Positive CityxChange group as part of an Alpha Venturi initiative to trade energy peer-to-peer.

Those collaborative initiatives illustrate IOTA’s potential to reshape industries as well as public e-infrastructure. While career opportunities at IOTA currently concentrate on core research and development engineering, its startup and enterprise ecosystem will surely welcome a growing number of technical and business minds capable of innovating beyond the silos of organisations and conventional business models.

According to de Miranda, “IOTA wants to be for IoT what TCP/IP has become for the web. The vision is a machine economy where IoT assets, e.g. autonomous vehicles, participate in creating and exchanging value through machine-to-machine transactions”.

In that sense, the Business Development Director of IOTA highlights that new business models have been created around distributed ledger and IOTA technology. The smart cities of the future driven by the technological infrastructure could be used in conjunction with a new generation of services to “be a game-changer” throughout the financial system while IOTA could be at the forefront:

Some players – like IOTA – provide technological infrastructure that machines can use in the near future to power smart cities. […] It is beginning to fulfil at least some of the promise that it had several years ago at the start of the DLT/blockchain/crypto adoption cycle. While these projects are overshadowed by the speculation around Bitcoin, they could represent both significant innovation opportunities and new business models that are not tied to the price of Satoshi Nakamoto’s creation.

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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