Even though in November Microsoft and Iota came out with the first cryptocurrency market for the Internet of Things, IOTA declared that it has no formal business with Microsoft. No contributions are added to the IOTA’s marketplace and there are no sensors connected to its network. A Microsoft agent told TNW that “IOTA is a Microsoft Azure customer and plans to use Azure to test and deploy its Data Marketplace.”
Partner vs. participant
They are not called “partners” but “participant”, clarifies co-founder DominikSchiener for TNW, even though the companies are collaborating. He also said that after their collaboration, IOTA’s market share quadrupled from $2.95 billion to over $13 billion, and the point on meeting up is to showcase the weighting of Tangle and its data marketplace as a proof of idea and to install and connect weather sensors to IOTA’s record technology.
IOTA will provide this type of business with other companies too since the launch of the data marketplace has already begun. A month ago IOTA announced a huge partnership with Microsoft, Fujitsu, Samsung, Deutsche Telekom and other technologic companies that will use its Tangle technology in the first data marketplace built for the Internet of Things. Schiener said that IOTA will have the same “thought leadership” experiments with other companies and they have already begun holding activities.
A report by Reuters adds that IOTA was asking publications to use Microsoft’s name after the data marketplace notice.
If the Tangle technology keeps its promising side, IOTA could someday join a leading blockchain technology like Bitcoin and Ethereum. Tangle has many benefits over blockchain, as free transaction fees and better scaling chances, said Schiener.
Microsoft avoided from taking a more serious part in the data market experiment, but it can clearly change the future if it does.
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