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IOTA data marketplace is a game changer in the making Rene Peters December 6, 2018 no comments

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IOTA data marketplace

IOTA data marketplace is an experiment that runs on the IOTA testnet. Participants can choose to make their data available for free to other marketplace participants or to offer it for fictional “sales” in IOTA testnet tokens. No real world payments or other real world financial consequences will result from this experiment. All data being contributed to this proof of concept is either non-sensitive data of which the participants are the authorized owners and/or is publicly available data which the participants may freely choose to share.

As the official explanation of this marketplace states, the goal is to enable a truly decentralized data marketplace to open up the data silos that currently keep data limited to the control of a few entities. Data is one of the most imperative ingredients in the machine economy and the connected world.

Over the next next decade, there will be more than 75 billion connected devices that interact in different manners. This will give rise to a ‘Machine Economy’ and with this prospect of tens of billions of devices generating data, we will see a proliferation of data that is unmatched in history.

The largest obstacle preventing the fulfillment of the grandeur envisaged by ‘Big Data’ is the fact that the overwhelming majority of data remains locked in what is called ‘Data Silos’. Data silos do not, or at best very rarely, share its data outside its own closed environment.

This is why the IOTA protocol becomes necessary to unlock data’s gigantic potential.

IOTA is becoming the industry standard for data processing and payments

IOTA is marching ahead with their partnerships. Even though the ogranization they introduced as their latest collaboration partner is little known, the implications of this cooperation could be huge.

As HelloIota writes, yesterday, the IOTA Foundation has announced that it has partnered with [email protected] which is the only ISO/IEC-compliant industry standard.

[email protected] e.V. was founded in 2000, by the companies Siemens, BASF, AUDI / VW, e.on, SAP, Bayer, Degussa, Wacker, Infraserv Chemfidence and Solvay with a goal to establish a standard for secure, electronic machine-to-machine exchange of product data and properties across features, values and units.

So think of [email protected] as the standard language for industrial companies in order to enhance communication and eliminate misunderstandings.

IOTA now adds the feature for this standard which is needed to make the Internet of Things (IoT) happen: the layer on which this standardized information is communicated – especially from machine to machine (M2M)!

IOTA is especially relevant when it comes to M2M payments. In order to avoid fraud, the data which is processed needs to be tamper proof. Once stored on IOTA’s Tangle, the data cannot be altered anymore and is thus “safe”:

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For example, companies could collect data on the current and average power consumption of their microprocessors, to determine needed software updates and fixes for the next generation of the product. Machines of different vendors could also request attributes of their peers, to directly identify compatible machine partners and their needs, such as current engine power consumption or whether certain modules/capabilities are present. (source)

So if IOTA partners with [email protected] as their payment protocol, it automatically is introduced as such to the above-mentioned companies. Now you might ask where these companies come together to buy and sell their data – IOTA data marketplace is the answer.

🏆Read here how to buy IOTA (MIOTA).


The data marketplace has been under the radar for some time now, but an update is imminent – and it will be big as one of the IOTA Foundation members has mentioned on Discord lately:

 

IOTA and ecology

Another IOTA focused blog published an interesting story about IOTA and its possible positive influence on the ecology of our planet.

“One of the outstanding topics of politics is the transformation of the energy system. In order to avoid emissions, wind and solar energy are an important element here. In order to make sensible use of this renewable energy in a decentralized energy system, the exchange of innumerable data and payment flows is necessary. At this point, IOTA comes into play. IOTA with the Tangle can become an important building block for handling these data and cash flows in a transforming energy system. IOTA has the properties needed for it, but is also ideal for many other applications.”

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On.Live Is Pleased to Announce That ONL Token Holders Can Now Use Bitgo’s Industry-Leading Wallet and Custodial Offerings

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BitGo is the market leader in digital asset financial services providing security, compliance, custodial, liquidity solutions for institutional investors. BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of global Bitcoin transactions and $15 billion per month across all cryptocurrencies.

In 2018, BitGo introduced BitGo Custody and launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo Business Wallets and BitGo Custody are used by hundreds of clients around the world including the largest cryptocurrency exchanges.

Since its inception in 2013, BitGo has been focused on the institutional market and that makes working together a natural fit, as we want to extend the accessibility of ONL tokens for institutional and enterprise clients.

On.Live is a distributed live video broadcast network project, build to fill the niche in payed live and on demand services delivery in the Internet. The platform offers one of the kind, innovative, no subscription business model, beneficial for all parties involved in On.Live marketplace.

With live streaming on the rise, and lack of other comparably flexible solutions on the market, On.Live is natural choice for access and delivery of live streamed services for individuals, small and big businesses. On.Live is aiming at becoming market leader and platform of choice for everyone who realizes the huge potential in live streaming, and what profits it may bring in his own economic activities.

We believe that BitGo’s support will elevate On.Live’s business potential, contribute to growth of the platform itself and positively affect the security of ONL.

Source:nulltx

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10,000 Retail Shops in France Will Sell Bitcoin, XRP, Ethereum, Litecoin and Dash, Powered by Payments Giant Ingenico: Report

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Bitcoin, XRP, Ethereum, Litecoin and Dash are reportedly expanding to 10,000 points of sale throughout France.

Digycode first rolled out its crypto coupons last year. The startup says it’s now expanding to over 10,000 shops through a collaboration with Paris-based payments giant Ingenico, according to local news outlet Cryptonaute. The leading payments firm reported $2.8 billion in revenue in 2017.

“‘The deployment of Digycode is the result of a partnership between Digital Service and Ingenico, and tobacconists equipped with a Devlyx cash registerare, therefore eligible to sell our product for their customers, commented Christopher Villegas, CEO of Digital Service.”

The crypto startup will offer prepaid recharge coupons that can be purchased in three available increments – 20, 50, or 200 euro – by visiting any of the supported locations. Once a customer redeems the coupon on Digycode’s website by using a secret code, the euro is converted into crypto.The company says crypto balances will appear in the user’s crypto wallet as soon as the transaction is confirmed.

Tobacco shops are selling crypto despite regulatory uncertainty.

France’s tobacco federation was granted permission to sell crypto from the French Prudential Supervision and Resolution Authority, according to a report from the French radio network Europe 1.

But France’s central bank is singing a different tune, saying it has not approved retail sales of cryptocurrency. In addition, the Financial Markets Authority, which regulates the country’s stock market, has issued a statement saying no company is licensed to sell crypto in stores.

Source.dailyhodl
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Crypto-Friendly Wyoming Becomes First US State to Give Bitcoin, XRP, Ethereum, Litecoin, EOS and Altcoin Owners Complete Property Rights

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The Wyomng Senate passed SF125 on Thursday. The “Digital Assets” bill will now become law, granting cryptocurrency holders property rights for direct ownership of digital assets. Wyoming is the first state in the US to pass a clear regulatory framework for Bitcoin, XRP, Ethereum, Litecoin, EOS and other altcoins, setting the stage for cryptocurrency investors, entrepreneurs and crypto-related businesses to flourish in the state.

The bill allows people to hold cryptocurrency without the need for an intermediary to own digital assets, and clears the way for banks to offer custodial services for cryptocurrencies.

According to the act, digital assets are considered intangible personal property.

“AN ACT relating to property; classifying digital assets within existing laws; specifying that digital assets are property within the Uniform Commercial Code; authorizing security interests in digital assets; establishing an opt-in framework for banks to provide custodial services for digital asset property as directed custodians; specifying standards and procedures for custodial services under this act; clarifying the jurisdiction of Wyoming courts relating to digital assets; specifying applicability; authorizing the promulgation of rules; and providing for an effective date.”

Other forms of intangible personal property are partnership interests, life insurance contracts, securities investments and royalty agreements.

The bill is expected to come into effect on July 1. It also supports the advancement of tokenized securities.

Caitlin Long, co-founder of the Wyoming Blockchain Coalition, expects the new legislation to attract blockchain companies and talent, making Wyoming a frontrunner in the space with a clear regulatory framework designed to foster innovation and spur adoption of Bitcoin, altcoins, blockchain-based businesses, trading platforms and crypto custodial services.

Source.dailyhodl

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