The IOTA Foundation has found a new cooperation partner in the IT Faculty of the University of Oslo. In addition to IOTA technology, the cooperation will focus on the topic of trust in the digital age.
IOTA gladly and frequently refers to its numerous cooperation partners from industry and science. With the University of Oslo and the Faculty of Computer Science there, a further partner has now been found, the IOTA Foundation informs in a blog post. It is said that several projects have already been realised in Norway, such as the Farm of the Future and in the Smart City area. The cooperation in the capital Oslo will initially focus on IOTA’s Tangle Network and the area of digital identity.
Background on IOTA in Norway
According to IOTA, the University of Oslo is the leader in distributed ledgers in the Scandinavian country. IOTA applies this principle of an automated cash book preferably for the Internet of Things (IoT), but has also already started a pilot project on digital identities and their verification in November 2019. Students and projects in Oslo will now be able to receive IOTA grants and an IOTA lab will be established at the university.
In general, IOTA’s prestigious collaboration with Norway’s largest and most renowned university is a potential door opener for public sector applications. Norway is generally considered crypto-friendly and sees block chain solutions as a great opportunity to make the economy more sustainable and environmentally friendly without sacrificing quality of life. A use case in the field of digital identity would be a great success for IOTA. Competitor Microsoft is already out of the test phase with its comparable project ION.
It is striking that IOTA does not mention the possibilities of its own crypto currency MIOTA in its communication. From the point of view of investors, IOTA still needs practical examples not only of its technology, but also of the advantages of MIOTA as a digital means of payment. It is also somewhat confusing that the tangle network is prominently featured, although this is set to be fundamentally revolutionised in the foreseeable future with the abolition of the central coordinator.
Conclusion: Success stories are good for IOTA’s course
The IOTA (MIOTA) share price has risen by a total of around 20 percent in the last five days, thus setting itself apart from the overall market. The background to this is such news as the recognition from the University of Oslo and the progress made with Coordicide, the switch to a decentralized network. Nevertheless, the price development is not really rosy at a current price of a good 0.23 US dollars. A year ago, IOTA was still at almost 0.40 US dollars and the all-time high of more than 5 US dollars in 2017 now seems like a dream.
The IOTA Foundation continues to face criticism from outside, with criticism of staffing and partly opaque financial transactions. As positive as IOTA paints the picture of itself – trust has shrunk not only because of the huge security problems at the official Trinity Wallet and the involuntary closure of the network for a month in early 2020.
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