IOTA – data marketplace with big tech firms – price surges – but still very low to purchase

We have described the benefits of IOTA and why you should invest in it a few weeks ago. Since then, it's price has surged and gained about 240%. More recently, it surged 70% on one specific announcement - it has signed deals with big tech companies like Microsoft, 

Huawei, Samsung or Fujitsu related to building a data marketplace based on their tangle technology. The idea is to enable companies to sell any data on a data marketplace.

IOTA said more than 2.5 quintillion bytes of data are generated daily and are increasing exponentially on a monthly basis. However, more than 99 percent of this data is wasted and lost to the void because there is currently no ability for owners to sell or share this data in a secure fashion.

“Any kind of data can be monetized,” Sønstebø (IOTA co-founder) said. “If you have a weather station collecting wind, temperature, humidity, and barometric data, for instance, you can sell that to an entity that is doing climatic research.” 

 

As soon as data is put onto IOTA’s decentralized ledger, it is distributed to countless nodes or the computers that connect to the blockchain network, ensuring that it is impossible to tamper with the data, Sønstebø said.

Each of IOTA’s partners on the data marketplace project will provide data within their sector.

“IOTA is kind of the first distributed ledger that goes beyond the blockchain,” Sønstebø said.

“We got rid of the blocks and we got rid of the chains, which has resulted in getting rid of the major pain points or limitations of the blockchain such as fees, scalability, and centralization.”

With such solid service offer and core system, there is much more we can expect from IOTA as a company and from their IOTA price - currently still very low at $3.17 USD, there's much more room for growth.

Here's their original announcement.

And their partners:

Read our more detailed analysis why IOTA is a good investment.

More on this deal on CNBC or Reuters.

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