IOTA (MIOTA) announced their collaboration with Nordic Semiconductors and NTNU University last week. The cryptocurrency company announced that they will work with the Norwegian companies to build data marketplaces on IOTA’s platform. The partnership will further enhance IOTA’s development with real world applications. The cryptocurrency dropped to the 10th position for a while with Tron (TRX) taking up the ninth spot. But this was mainly because of the Tron Mainnet launch and MIOTA reclaimed its spot soon after. This recent collaboration by IOTA comes shortly after they announced a partnership with Norway’s largest financial services, DNB ASA.

Nordic Semiconductors

Nordic Semiconductors is one of the biggest players in the future of wireless and portable electronics. Their product ensures improved usability, flexibility and portability achieved through system-on-chip (SoC) and connectivity devices utilizing ultra-low power chips. The company recently partnered with 7 NTNU students. Together they created a system which allows the Thingy: 5.2 to publish sensor data on the IOTA data marketplace. Speaking about the project, they said,

“Nordic Semiconductor and NTNU have a long and close history of close collaboration together. The IOTA initiative is yet another example of this close collaboration. The Nordic Thingy: 52 is a multi-purpose sensor dev kit using Bluetooth Low Energy, it has been used in all sorts of scenarios, but we believe this is the first time we’ve seen it in a Blockchain type project.”

The company wants to collect air quality data and the results will be submitted to the IOTA data marketplace. The permission-less Blockchain will host the data (temperature, humidity, CO2 levels, air pressure etc.) and it can be purchased and exchanged. The data on the IOTA platform can be accessed easily using MIOTA tokens, moreover it’ll be quicker and cheaper.

MIOTA has a total market cap of $5,383,894,568 USD at present and is ranked 9th on Coinmarketcap. The MIOTA tokens are trading at $1.73 per token, at the time of writing. They experienced a 5% increase in price after the announcement regarding the partnership with Nordic Semiconductors and NTNU. These recent collaborations by the cryptocurrency company may well lead to the price going up to $5 by the end of 2018.

How the partnership will help IOTA’s $5 target

IOTA development to be boosted by this partnership

Students and graduates from NTNU can benefit greatly from this collaboration by participating in the development of the IOTA project. NTNU is the Norwegian Science and Technology University in Trondheim. The Norwegian university is considered one of the best in the IT field. MIOTA’s ever growing team of professionals will benefit from their quality research and development. Wilfried Pimenta, the head of business development in IOTA spoke about the idea of partnering with the university, saying,

“Involving Academia in this exploration is a winning scenario for all as new IT talent is needed by all industries undergoing digital transformation. With IoT and Distributed Ledger Technologies (DLT), the Smart revolution is a massive opportunity of national stakes which we ought to shape together.”

This partnership won’t just be a temporary boost to the cryptocurrency’s price. But rather it’ll have a long term impact on the overall development of IOTA itself by increasing overall adoption of the platform. IOTA’s Blockchain being immutable, fee-less and enabling faster transactions are an added advantage here. All these will see the coin increase by 200% to above $5 by the year’s end.

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