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All Credits to Iota.News by Nala
It should be “the backbone of an autonomous economy of machines”. “If you want to exploit the potential of the Internet of Things, you have to allow machines to pay each other,” says Schiener. He is not alone with this idea. If in the next few years autonomous vehicles carry passengers, they should pay for fuel or parking alone. “If vehicles pay for loading or parking on their own, they need safe technology,” says Johann Jungwirth, Chief Digital Officer at Volkswagen. That’s why he met with Schiener, whose solution is called the automanager “hochspannend”. The development is still in its infancy. And yet other big corporations are interested too. Deutsche Telekom, Microsoft, Innogy or Volkswagen are among the companies that are currently watching or experimenting with IOTA. Bosch is also one of the partners, Stuttgart bought even “a significant amount” of IOTA coins at the end of December and now want to develop joint projects.
The price of IOTA also rose sharply last year, from less than 20 cents in the summer to sometimes more than five dollars. At times, IOTA was one of the five most valuable cryptocurrencies in the world. Most recently, it was in tenth place with a market capitalization of over ten billion.
Because there are now more than 1,300 cryptocurrencies that make the Bitcoin competition. Some of the most promising ones like IOTA are being developed in Berlin. “Berlin is the crypto capital of Europe, if not the world,” says Ethereum developer Fabian Vogelsteller. He sees the latest hype with mixed feelings. Vogelsteller was also surprised by the enormous increase and would have expected a Bitcoin crash much earlier. Many compare the current development with the advent of the Internet. In search engines and networks, there were also providers such as Lycos or MySpace until Google and Facebook prevailed. “We are still in the Lycos and MySpace phase for crypto currencies,” says star investor Klaus Hommels, who himself invested early on Facebook or Skype.