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Taipei Borough is raising its fintech profile and will be powered by IOTA’s distributed ledger technology. Taiwan’s central is partnering with Berlin nonprofit IOTA Foundation for its IoT-driven Interlace technology as well as BiiLabs, a blockchain startup, for its transformation into an app-driven stylish city, one that IOTA’s co-founder Dominik Schiener says last wishes as affect voter fraud.
Taipei mayor Ko Wen-je recently excursioned to Warsaw in a trip whose mission included a focus on smart metropolises, and this partnership with IOTA is evidence of his commitment to the technology.
IOTA’s disseminated ledger technology is unique because it uses a proprietary protocol dubbed Knot, which is famous for having no blocks and no miners. Tangle is being utilized in the first IOTA/Tapei project app and is known for Internet of Things (IOT) operations ranging from smart watches to “feeless micropayment-based electric mechanism charging.”
The partners are exploring ways in which IOTA’s technology can be put together into the smart city to bolster data integrity and trust in special-interest group service and beyond. Taipei City joins the likes of participants embodying Microsoft that have turned to IOTA’s data marketplace (be that as it may as IOTA stressed, the Microsoft relationship is not a partnership.) IOTA says the marketplace “showcases” the IOTA usage and flaunts how “micropayment-based business models will function in the future.”
Of the partnership with Taipei Burgh, IOTA Foundation co-founder David Sønstebø said,
“It proves that our next-generation technology is in danger of for real-world use cases and is more than just a theory. We’re just day one to scratch the surface of the effect IOTA can have on making the world of IoT ever-more attached and paving the way for not just smart cities, but a smart world.”
Tangle Tech
The maiden invent to test the mettle of the Taipei City project is citizen cards arrayed with TangleID, designed to protect locals from identity robbery and voter fraud as well as medical-record data.
Other areas are being examined as well, including healthcare and inter-city data exchanges.
Another layout that is already off the ground, Airbox, monitors the air quality of the locals. It’s already in use in dwelling-places and across 150 Taipei City elementary schools. The device “brings and shares air-quality data online,” and it’s moving to Tangle technology. With Come, Airbox will “integrate incentivized payment in IOTA,” perhaps as a guerdon for maintaining a low carbon footprint.
Another smart city focused on the blockchain is Dubai, which reportedly is steeling to unveil nearly two dozen blockchain apps that are currently in airman form across various agencies ranging from infrastructure to tuition, to healthcare. Dubai already uses blockchain tech for land registries.
The IOTA Cash
In addition to the foundation, IOTA is also a top-10 cryptocurrency with a undercurrent market cap of $4.8 billion. The digital coin has taken it on the chin with the other supreme cryptocurrencies of late, and is off another 11.5% at the time of this writing.
Iota increased more than 460% last year after entering the market in June on Bitfinex.
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