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MIOTA · 206w

Why IoT matters more than digital currency for humans

You might have asked yourself why the focus on IoT which is currently only a small market, when a digital currency for humans is what every other digital currency seems to be adressing. The reason, as far as I can tell, is: M2M is the endgame. Transactions there will dwarf humans-to-humans. IOTA will win because it goes straight for the endgame, and is uniquely tailored for it. This is a classic example of a disruptive innovation as defined by Clayton Christensen. Just like digital cameras captured the low end of the market and then ate it way upwards to outcompete Kodak and classic cameras, IOTA will capture what is now the underdeveloped market (IoT) and in time also outcompete traditional cryptocurrencies in the established human-to-human crypto market. Besides: IOTA is a huge _enabler_ for companies wanting to get into IoT/M2M space. So it leverages a market _pull_ (Dominik mentioned in his rooftop talk that companies are coming _to them_, rather than the other way around), instead of a technology _push_ (like so many other cryptos). It's not a solution looking for a problem (Ethereum, anyone?). While digital currencies for humans have been tried to be pushed out into the general market since the 90's, no one has quite nailed it yet, and it does seem to take a lot of time to overcome VISA and achieve a solution that works way better for the end user and thus gains widespread adoption. That's just one of the reasons why I like IOTA: it adresses a real life pain point (for big companies) so much more than other cryptos. After all: Who wants to be left out of the M2M market opportunity, which will change industries?
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MIOTA -3.48% · · 13h

Dev Status Update - September, 2021

Published by the IOTA dev team every month, this update will provide you with news and updates about our key projects! Please click here if you want to see the last status update. For monthly research...