The IOTA team continues on the positive strides towards becoming a top DLT in the market. On top of the massive technical developments, they have made on the IOTA tangle, they are also involved in bodies that will advance the interests of blockchain technology in the market.
Sometime back, IOTA joined the Trusted IoT alliance, and it is at it again. This time around, IOTA is part of the founding projects teaming up to form the International Association for Trusted Blockchain Applications (INATBA). Here is the announcement as it was tweeted by IOTA.org.
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“IOTA and more than 70 partners worldwide are coming together to help create smart global governance frameworks for blockchain and distributed ledger technologies, called International Association for Trusted Blockchain Applications (INATBA).”
This is a huge step not just for IOTA but for blockchain in general. That’s because, one of the factors holding back the adoption of this technology is the lack of a clear regulatory framework. It is something that most projects have recognized. In fact, even Ripple’s CEO, Brad Garlinghouse touched on the need for a global regulatory framework, when dealing with cryptocurrencies. As such, the fact that IOTA is one of the projects taking part in such initiatives goes to show that it is a project that has very forward thinking people behind it. This means that once decentralized technologies go mainstream, it will be among those that gain the most in terms of adoption, due to its proactive approach towards the adoption of this technology.
On top of that, IOTA is boosted by advances in complementary technologies. One of those technologies is 5G. 5G has been an idea for some time now but it is becoming a reality. So much so, that world powers are now jostling to take leadership in this tech, led by the U.S and China. Telecom companies in the world’s major economies have already announced the rollout of this tech in 2019/20, and it’s a huge bullish signal for IOTA (MIOTA).