Mark Schmidt released a monthly update on Nov. 6th of what the IOTA Foundation was up to in the previous month. IOTA collaborated with Ledger, one of the most well-known companies in blockchain security. This is a major step considering that the crypto industry is prone to hacks, heists, and cyber-attacks. The Foundation also lost one of its board members who is relocating from Germany to the U.S but leaves in good standing.
IOTA Foundation Partnerships
IOTA Foundation takes the security of MIOTA token holders seriously and recently signed a partnership with the Ledger. The new deal integrates:
“IOTA tokens with Ledger’s secure hardware wallets for cryptocurrency.”
Eric Larchevêque, the CEO at Ledger said:
“The collaboration between the teams created an immediate synergy concentrated on developing a compatibility feature allowing users to access, store and manage IOTA tokens on Ledger devices. We are thrilled to welcome IOTA onto the Ledger platform.”
On Oct. 15th, Cara Harbor, the head of Comms for IOTA Foundation posted a blog post indicating that IOTA’s Tangle, the next evolution in the blockchain, is powering:
“IAMPASS biometric palm vein authentication for digital Identity.”
IAMPASS technology scans the veins of a person and creates an immutable record of the person’s identity.
Dominik Schiener, co-founder and co-chair of the IOTA Foundation said that IOTA’s permissionless distributed leger technology gives “users access and ownership over their own data.”
Nino Ulrich, the co-founder of IAMPASS spoke highly of IOTA, mentioning that the:
“Tangle’s unique features such as the lack of miners or transaction fees, and its intrinsic scalability, make it a natural choice for us.”
On Oct. 31st, the IOTA Foundation announced the signing of a Memorandum of Understanding with High Mobility. The deal will see the “integration of IOTA content, blueprints, and tutorials into HIGH MOBILITY´s developer platform.”
On Oct. 26th, Serguei Popov published a blog post stating that IOTA is trying to build an ecosystem without transaction fees and in order to do so, the platform has to eliminate miners. The elimination of miners requires a collaborative system, and IOTA is still working on this.
IOTA also released a video showing how TWO IOT is “utilizing IOTA to make waste management in Taiwan a smooth, efficient ride.”
A Board Member Leaves the IOTA Foundation
Johann Jungwirth, EVP Mobility Services Volkswagen Group of America and a board member of the IOTA Foundation is relinquishing his post at the Foundation because of his relocation to the U.S. from Germany.
Jungwirth was instrumental in facilitating a deal between the IOTA Foundation and Volkswagen. His departure will not affect the deal as he is still in good standing with the Foundation.
With a market cap of $1.387 billion, IOTA’s token is ranked 13th and is currently trading at $0.49999, a 1.6 percent drop in the last 24 hours.