IOTA (MIOTA) – IOTA research Council a good indicator that IOTA is ready for business
Yesterday, the IOTA foundation announced the formation of the IOTA research council. This council which is made up of academics will oversee the interaction between academia and industry, among other issues. Here is a more detailed profile of the role of the IOTA Research Council.
“The IOTA Research Council will work closely with our research department to set the strategic technological direction, provide academic oversight to IOTA research, assess and grant funding to academic partners, and oversee collaboration with academia and other research organizations. The Research Council will consist of distinguished academics that are at the forefront of their area of expertise. It will not only provide invaluable input to the research strategy and initiatives but will also oversee the quality of our research to ensure high academic standards.”
The formation of this council points to the maturity of IOTA, and its preparation for the next phase of cryptocurrency growth, which is large scale adoption. This council will play a role in the adoption of IOTA (MIOTA) in the following ways.
First, by assessing grants, it will ensure that only worthwhile projects get IOTA funding, to increase chances of growth. When projects that have the potential for mass adoption get funded, they will gain prominence in the media, and help in looping in more companies to start using IOTA. This could create a chain reaction that will add to the intrinsic value of IOTA (MIOTA) in the long-run.
Secondly, by setting the strategic direction of IOTA (MIOTA), the council will ensure that IOTA stays on the right path to growth, in all its technological developments. This will not only speed up developments, but also ensure that all developments are viable, and in line with what the market needs. Essentially, this means that IOTA is well placed in predicting market needs and factoring them into the IOTA foundations tech developments. This will speed up the adoption of IOTA (MIOTA) going into the future, and drive up its intrinsic value.