Original post in German:
All credits to: Anna Schughart
NOTE: THIS ISN´T THE BEST TRANSLATION. PLEASE, IF YOU CAN, HELP US.
Data marketplace, rapid price increase, world’s first crypto foundation: The past few days have been turbulent for IOTA. Suddenly everyone is interested in the Berlin startup. IOTA wants to be the “Next Generation Blockchain” for the Internet of Things.
Information is constantly being exchanged in the Internet of Things. Machines communicate with machines, sensors produce data that is used by other devices again. For example, houses themselves should be able to regulate their room temperature, refrigerators can independently shop or self-driving cars decide when to refuel – and even pay for themselves. In the Internet of Things, machines trade machines.
But for this to work, the Internet of Things (IoT) needs a viable network. A way to share, sell and pay for data – a lot and constantly. The Blockhain can not do that, says Dominik Schiener, one of the founders of IOTA. And for several reasons: For example, because there are charges for each transaction due – but it goes to the Internet of Things especially small amounts. Or because it is not arbitrarily scalable, too slow. “We solve the problems of blockchain,” says Schiener.
With the help of Tangle architecture, you can then perform transactions, exchange data and secure or buy and sell using the iota tokens. The token price has risen sharply over the past few days . An example of what this might all look like is the data marketplace – a prototype that IOTA opened for two months at the end of November . “The data marketplace is the killer application at IOTA, enabling completely new business models,” says Schiener. On the marketplace, data that sensors produce can be bought with IOTA tokens. It should be the liberation of the data – out of the silos, into the data lakes.
So far, for example, weather data is available for purchase on the IOTA data marketplace. Among them are Bosch and Telekom. But not only companies, but also users should be able to sell their data – and thus also benefit from them. “We open the data marketplace for the entire IOTA community,” says Schiener.
The data marketplace is an example that should show what would be possible. But IOTA’s success, says Schiener, depends on many large companies getting involved. An incentive: IOTA is free and open source. Another: The IOTA Foundation, which was recognized by the Berlin Senate in early November .
It is the world’s first crypto foundation. It took more than a year to realize them, Schiener explains: “We had to convince the regulators that the IOTA token is really a recognized currency.” The IOTA Foundation, he says, now has a capital of around 500 million euros That’s because the token owners donated part of the existing tokens. With the help of the foundation, IOTA can not only signal big companies: Look, we are serious and regulated, but also put a lot of money into the development of the technology. “Our goal is to bring the protocol and the software into production ready status,” says Schiener.