The future of IOTA has never been brighter! For some time now, experts have viewed IOTA (MIOTA) as a long-term idea that will take years before it can see any real adoption. But that is about to change thanks to the partnership between IOTA and the city of Taipei. The city of Taipei is looking to use IOTA technology to create a smart identification system in a bid to build a futuristic city. To quote the city’s commissioner of information, as stated in Crowdfund Insider,
“IOTA is one of the innovative players in the cryptocurrency world because of its unique technology. With Taipei City always thinking ahead and with IOTA’s technology, this partnership is a strategic move to usher in the era of smart cities to the citizens of Taipei. We welcome the IOTA Foundation to Taipei City and are excited to embark on the future together.”
This partnership is guaranteed to give impetus to the growth of IOTA coin since investors will get to know of the use value of this crypto. This positive momentum is quite visible in IOTA coin’s recent price surge, pushing up from lows of $1.14 to its current price level of over $2.
Even the IOTA development team is expressing optimism that this partnership is a catalyst to the long-term growth of IOTA coin. Crowdfund Insider quoted Lman Chu of BiiLabs stating that,
“Partnering with Taipei City lays new foundations for business models and real implementation of our technology.”
Once this partnership comes to fruition, you can expect other cities to try and replicate the same. We live at a time when the rate of urbanization is higher than ever, and cities are being forced to find smart ways of dealing with ever more complex problems such as crime. This makes the use value of the IOTA technology quite high, and could play an exponential role in the future growth of IOTA coin.
Let’s also not forget that mechanical devices are getting smarter by the day. Household electronics; for example, are now so smart that they can handle most operations on their own. With its fee-less transaction system, IOTA will play a critical role in taking these technologies to the next level. It will allow for seamless communication between machines, ushering in a new era in 21st century lifestyles.
All these factors are a strong anchor to IOTA coin’s long-term potential. Even from a technical price analysis, IOTA is showing signs of a take-off. After a few weeks in the red, IOTA (MIOTA) is forming a strong reversal pattern. Once the price breaks above $2.5, it could easily hit $ 4 in the medium term. That’s a more than 100% growth in investment with even higher potential for growth once projects like the Taipei smart city get implemented.
This is one of those coins that you should be looking to HODL for the next few years. Chances of this coin breaking the $10 mark in 2018/19 are quite high.