IOTA Is Going To Norway With DNB ASA Partnership |


Providing power stations and recharge stands for Tesla’s famous electric cars is not enough or IOTA, that has never even been the main goal, it is but a means to an end; the Internet of Things. IOTA has been behind much of the push for the implementing of the Internet of Things technology, also having partnered with Taipei recently to power the city with the same tech. IOTA is back in the headlines now as Norwegian DNB ASA bank is partnering with the tech foundation to use its Tangle technology.

IOTA wants to establish a mass adoption of its internet of things ecosystem, thus having its own electric cars charging station is just one of its ways of seeing to this reality. Places with such functional stations are the Netherlands. This move towards mass adoption will kot be stopping any moment soon judging by he success and progress so far. And as you would expect IOTA is expanding this ecosystem in a new deal with Norway’s largest bank.

DNB ASA is one of the many banks that are looking to implement machine to machine communication in a bid to help cut down cost on human labour and increase speed of transactions.

IOTA’S Tangle For Machine To Machine Communication

The deal between both institutions will see them work towards “innovation and co-creation in the space of citizen-centric innovation, machine economy and decentralised data market” as stated by IOTA’s head of Biz Dev according to a post by media outlet, Medium, on the last day of May 2018. It will see IOTA’s Tangle technology used for research and development of the Internet of Things.

Just as Ripple’s XCurrent powers Ripple’s alliance with banking institutions so does IOTA’s Tangle. Tangle is the underlying system that powers IOTA’s Internet of Things ecosystem.
DNB ASA has had some experience with decentralised blockchain technology in the past and will be looking to extend that run with Tangle in its bid to progress the implementation of machine to machine communication and transaction in a decentralised system.

IOTA has earned a name for being able to give its cryptocurrency a real world use as well as having an IoT ecosystem that is underpinned with a blockchain type blockless system. One of the major successes of this ecosystem has been the functioning charging stations for electric cars. The interesting part of it is the fact that due to it being powered by the Tangle technology.
The IoT project of IOTA is what has undoubtedly kept the IOTA cryptocurrency head above water as most cryptocurrencies are fluctuating. Bitcoin has been struggling lately with remaining with the $7,000, Ethereum has been moving between $500 and $600. IOTA has within this same period been rising at about 0.89% at about $1.4 to $1.73, and hopefully it could rise to $2 should there be a huge buying in the cryptocurrency market.

Follow us on Telegram.


Leave a Reply

Your email address will not be published.