IOTA, a company founded in 2015 by David Sønstebø, Sergey Ivencheglo, Dominik Schiener and Dr. Serguer Popov is set to make a huge move in the cryptocurrency industry.
The company which is an open-sourced distributed ledger (cryptocurrency) company focused on providing secure communications and payments between machines on the internet of things. IOTA also has a non-profit corporation known as IOTA foundation that coordinates and funds development of the IOTA technology.
After a successful startup with lots of investors and collaborations from companies like Microsoft, Fujitsu, Telekom, and Deutsche, as a way of further reaching out to the world and showcasing what it has to offer. IOTA in collaboration with Rafael Rohden has decided to go into the minting and distribution of an actual 3D coin.
Rafael who lives in the United States is also a member of the IOTA community and decided to explore the concept of minting physical coins. He first designed and rendered a 3D coin to the IOTA community and after receiving numerous great feedbacks went ahead to Launch a Kickstarter Project funds account.
The Kickstarter funding for the project with a goal of $10,000 and a deadline of 19/01/2018, has as at 16/01/2018 already surpassed this target reaching $21,461. This shows massive support for this idea of minting cryptocurrency.
What Exactly Does The IOTA Minted Coin Do?
The IOTA minted coin which will go for about $10 each will have no monetary value whatsoever. It is in not exchange for the actual cryptocurrency but as stated earlier is a great way to advertise the company. It would make as a great Memento and in a world where the sense of touch is quite vital is an excellent form of representation.
It is about 2inches in diameter and has no chip or hardware inside. It will have two tons of plated gold and silver and will also feature an engraved circuit board. These features, however, are subject to the manufacturing capabilities of the manufacturer.
Where Can I Get The Minted Coin?
The IOTA mint coin will be made available for order on a new website www.tanglefy.com which will launch as soon as the coins are ready. Rafael is working closely with the manufacturer that will produce the coins and even promises a refund if there are any problems with the production or distribution of the mint coins.
These coins would make as good gifts and souvenirs. There won't be too many of them in production thus making them rare and valued keepsakes. They make a great way to illustrate and introduce people to what cryptocurrency is all about and can also serve as reminders after you are done.
This solves the problem of tasking too much on the imagination of your listener, and the fact that the coins are quite pretty and flashy is a bonus. They are just in general, an awesome way of advertising a company and what it does and represents.
There are always risks and disadvantages to everything. And not everybody might like the idea of coins. However, except the production or distribution of these coins encounters problems, this seems like an excellent idea with a lot of Public Backing.