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IOTA’s rise back to relevance

 

On May 22, The United Nations agreed to a deal with the IOTA network that involves “exploring how IOTA can increase efficiency.” To be clear, it wasn’t really termed to be a deal, so much as it was termed a written understanding.

 

 Even so, there is a striking implication or two that can be said to come from it. First of all, the agreement doesn’t involve the overall organization but only the wing called the “Office for Project Services” or UNOPS.

 

UNOPS hopes to find a new way to increase operational efficiencies through “The Tangle.” If you don’t yet know, this is IOTA’s version of the Blockchain that’s a bit different. Essentially, while Blockchains look like long, continuous, sequential chains, “The Tangle,” appears to be a webbed chain.

 

It’s also important to know that in “The Tangle,” transactions can enter at many different times, but just like with the Blockchain, they can never appear backwards in the chain. In other words, as several sources often state, everything still moves forward and cannot “loop back” on itself.

 

One member of UNOPS actually apparently said that the unique shape of IOTA’s network is one feature that made it stand out for them, above other crypto projects. UNOPS elaborated on this by saying that IOTA’s uniqueness also comes from the fact that it can run on devices with traditional battery power well as what UNOPs calls “alternative connectivity networks.”

 

While UNOPS does not go further as to what this means, it seems safe to say that “alternative connectivity networks” would not include traditional connections to the internet. Also, they’re drawn to them due to the UN’s frequent work in impoverished areas around the globe, in which people have limited to no access to the internet or electricity.

 

In that its optimized for low cost, frequent transactions, IOTA’s network also brings the possible benefit of being compatible with the Internet of Things and related projects. At this point, UNOPS has, however, made clear that it is only using their agreement as an exploratory venture at this time. The point is to learn how they can best work with IOTA and how they can best use “The Tangle” for what they need.

 

UNOPS is even open to adding other crypto firms to their exploration of the utility of “The Tangle,” which brings to mind the possibility that this isn’t about IOTA, so much as it is about finding the right Blockchain partner.

 

The fact that the UN stated clearly that they think Blockchain tech is “promising” is a good start and it will be interesting to see where such a possibly wide ranging partnership leads.

 

 

         

 

By: BGN Editorial Staff

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