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IOTA [MIOTA] will be the new protocol standard, says Japanese tech giant Fujitsu

Anvita M V



IOTA [MIOTA] will be the new protocol standard, says Japanese tech giant Fujitsu
Source: Unsplash

Japanese Multinational IT equipment and service company, Fujitsu is all set to roll out IOTA as the new protocol standard. On 24th August, IOTA Foundation made the announcement regarding the same on their official Twitter handle.

The initiative is titled ‘Industry 4.0 co-create with Fujitsu’. Leopold Sternberg,  Program Manager, Industry 4.0 Competence Center of Fujitsu stated that the primary aim of the project is co-creation. He said:

“We want to develop and co-create innovative technology together with customers”

Speaking about IOTA, Sternberg stated:

“Fujitsu is well-equipped to help roll out IOTA as the new protocol standard as we are experts in both IT services and the manufacturing of IT products.”

According to the Proof of Concept document published by Fujitsu, they believe that  IOTA is a suitable fit in production environment and supply chain management:

“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.”

Through this concept, Fujitsu focuses on two main goals:

  1. Demonstrating the use case of  IOTA as a data storage medium in a production environment.
  2. Engage with automotive industries and drive an IOTA-based innovation with Fujitsu’s co-creation approach.

The project offers three core benefits, transparency, trust in data and data security where IOTA will play the role of a ‘cryptographically secure source of unified truth’ the document stated.

On 25th August IOTA announced the launch of its much-awaited Trinity Desktop Beta Wallet which has caused a lot of excitement among members of the IOTA community. The codebase of IOTA has now been made open source.

IOTA also announced that it will be working with leading innovators and advocacy groups across the Distributed Ledger Technology [DLT] and the Internet of Things [IOT] spaces to contribute in the making of public policy frameworks that are principled, effective and innovation-friendly in the interest of the public.

IOTA also hosted the Voice of Blockchain event in Chicago on 24th and 25th of August. The theme of the event was  “Connected Vehicles”, “Autonomous Vehicles”, “E-Mobility”, “Urban Mobility incl. Smart Cities” and “Mobility Services”.

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Anvita Mysore Vadiraj is a full-time content writer at AMBCrypto. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies.


Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%




Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.

Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”

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