IOTA to Perform a Live Demonstration at the UK Parliament to Highlight Blockchain Uses


Early next week, that is on March 12th, IOTA will be giving a live demonstration at the UK parliament as shared by one of the attendants.

The event will be showcasing four leading blockchain companies that will be present at the Parliament and will have a live demonstration of their applications in blockchain technology and its impact on different industries.

These projects involve IOTA, the fourteenth largest blockchain in the world for global trade. Other parties involve Oracle for Retail, Everledger for Diamond Supply Chain and Lloyd’s of London, on behalf of the London Market Target Operating Model (LMTOM) program for insurance, claims, and transaction settlement.

Establishing IOTA As The Main Currency For Machines

IOTA that was designed to become the “global standard for IoT messaging and payments,” is constantly working on them though Qubic that follows that standard further made possible by free transactions.

“The goal for IOTA is it to achieve adoption of the protocol & establish IOTA as the main currency for machines. Being headquartered & regulated in an environment which enables & further accelerates this adoption is of utmost importance. Germany offers the right environment!,”

Tweeted IOTA Token News Friday.

Meanwhile, on the price front, IOTA is trading at $0.2827 while registering a 1.06 percent loss in the past 24-hours. In the BTC market as well, it is in the red by 0.85 percent, as per the data provided by Coinmarketcap.

The fourteenth largest cryptocurrency by market cap of $785 million is managing the daily trading volume of $8.7 million. Currently, it is down more than 94 percent from its all-time high of $5.25.

IOTA Price chart, Source: Coinmarketcap

Founder: IOTA on a “Very Good Track”

Currently, IOTA Foundation is working with High Mobility to drive app development for smart mobility while through Development Fund is working on making itself completely transparent and accountable to the community.

A big step was recently taken by IOTA by launching a coordinator-less testnet as we reported. IOTA founder, Serguei Popov revealed yesterday that the team had actually figured out how it is going to service without a network coordinator.

On the Untangled podcast, Popov said,

“The main task which we have right now is getting rid of the coordinator of the network. We also call it coordinate and well I think we are on a very good track, and we figured it out already.”

He further shared,

“We have something called ‘fast probabilistic consensus algorithm’ which solves many problems for us. We’re thinking of calling it ‘fast consensus of Barcelona’ or ‘FC Barcelona’… I’m joking…not everyone likes this idea.”

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