IOTA application?

ALT COINS IOTA (IOTA)
#1

Hi everybody, my name is Hendrik.

I’m trying this new discussion forum because I’m somewhat disappointed in the level of discussion in other places. (ahem… reddit)

I just came onto this article here about the EU investigating the use of blockchain for a public WiFi project.

From what everybody can see, the IOTA team are pushing to get their tech into the car industry most of all. Or more generically, they are trying to get their tech adopted by industry before individuals. It is afterall supposed to become a vehicle for the Internet of Things, operating in the background without user interaction.

Now, an EU-wide WiFi project is imho also perfectly suited. A political adoption would mean instant support and broad rollout.

Reading further, the ESMA DLT Taskforce (European Securities and Markets Authority, Distributed Ledger Technology) could be a point of access to warm up politicians to some of the ideas that IOTA-team has been putting forward, like for example integration into car odometers to the betterment of second hand car markets.

This might be nothing more than ramblings without much actual benefit to it, but I like thinking about all of this and somehow I need to write it down.

Feedback welcome!

1 Like
#2

Hi Hendrik,

Thanks for sharing the articles (the ESMA article is from Nov ember last year). I think that Distributed Ledger Technology would bring many benefits to a large scale (EU wide) WiFi project. It would be great if such project were to take place!

IOTA may have a user case here and with car data monitoring systems. Not sure.

ESMA looks after the regulatory framework of investments in the EU and I would not imagine IOTA as being the most suited ledger technology for them.

But what do you think?

#3

I posted the old link about ESMA because it quite clearly explains what they are about. The recent news though is that their DLT task force has been renewed for another year.

For the EU-wide WiFi project that they mention, I would guess that IOTA is the best technology due to zero fees. When data usage needs to be registered and paid, I think that almost any transaction fee becomes prohibitive. I could be wrong of course, but I don’t see how even a 0.1 or 0.2 €%$/£ transaction fee would not be prohibitive.