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IOTA [MIOTA] Foundation welcomes Schindler’s executive member as an advisor

Rajath Kumar



IOTA [MIOTA] Foundation enters into an alliance with Schindler`
Source: The Blue Diamond Gallery

IOTA Foundation recently hired Michael Nilles as its new advisor to focus on the building the industry further.

Michael Nilles is an advocate and an early adopter of the Industrial Internet who has been on the learning curve of deploying smart, connected and data-driven capabilities.

The IOTA Foundation is located in Germany and is a formal, non-profit organization. The founders designed IOTA to be an open-source, free to use and led by an independent and neutral non-profit entity that would bring government and industries together.

Schindler manufactures, installs, services, and modernizes elevators, escalators, and moving. Their products are found in every type of building. It operates in over a thousand branch offices and has branches in over 100 countries. They have facilities in China, United States, Brazil, Spain, India, and China.

On March 20th, the Schindler Holdings held its Annual General Meeting of Shareholders, where Nilles was successfully elected as a new member of the Board of Directors; which was initially proposed in January of last year. Nilles also became a member of the Board’s supervisory and Strategy committee. Nilles will have a main influential voice on how Schindler’s digital strategy will work at the loT-activities.

There is a lot of speculation that Nilles was planning a future collaboration between the IOTA foundation and the Schindler Group. It was revealed that the company would be investing in state-of-art-technologies to elevate the digitization in the elevator and escalator market.

Schnidler has entered into various business partnerships with various companies over the past few years like GE Digital, Predix and signed a cooperation for loT connectivity with Huawei.

Tiny workshop, a Twitter user says:

“Awesome work was done by IOTA.”

Metz says:

“If only there was a video of it.”

Hayley, a Twitter user says:

“Very exiciting to see a talented person such as Micheal Niles working with IOTA, this will boost the advancement of IOTA. The group will provide better satisfaction to customers.”

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Rajath Kumar is an intern at AMBCrypto. He became aware of the crypto-world through gaming and has been a part of it for two years now. Rajath does not hold any value in any cryptocurrencies or its projects.

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Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator





Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.

“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.

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