For the last one month, IOST (IOST) appears to be stuck on the bear zone after a startup incubator for blockchain project Bluehill threw its weight behind the outfit with a $50million support fund. This came at a time when the market performance is still sluggish. This followed a meeting with Japan based cloud computing firm SB cloud that is owned by Alibaba.com and Softbank, a respected Japanese telecom operator.
IOST vision is to provide real world unsurpassed cloud computing solution for multinationals and startups as well. The move seem to have brought back the token to life and is becoming a choice platform for the on demand cloud computing. Many institutions and individuals are looking for affordable cloud based services and IOST appears to be giving Amazon Web Services (AWS) a good run for their bucks.
IOST (IOST) and Bluehill Incubation Deal a Hit
Blockchain incubation is becoming very popular among upcoming digital tokens and coins. Bluehill injection of $50million on the IOST network is a major boost given that the incubator service provider is backed by two notable exchange supporting firms; Huobi Capital and Binance Labs. These two firms are stable and have supported many blockchain projects in the past.
This is a huge boost given that IOST (IOST) is listed on Huobi and Binance thus forming a formidable force as the market entry point. The two exchanges have taken the lead in pushing the IOST token to the market and their global appeal has increased adoption and value of the token in the last two months going by CoinMarketCap statistics.
Bluehill is supporting most projects riding on the IOST ecosystem though this is not a restriction. According to a statement from the incubator firm:
“Our focus is on backing the best teams early and aligning our interests with theirs right from the start so that we can build trust and familiarity with the most enduring companies.”
IOST (IOST) and Alibaba Cloud Japan
The IOST (IOST) and Alibaba’s Japanese cloud computing firm is a long term partnership has will continue to yield results in future. This is a strategic collaboration that will boost IOST in its bid to become a global brand. This have awoken the American giant, Amazon Web Service (AWS) to launch a blockchain based template to counter the token’s technology inroads into the market.
However, the IOST’s value proposition and the real world IT problems it seeks to solve is double edged; it saves on cloud computing time and money. With decentralized features it comes with, AWS occasional system downtime and failures are its undoing. IOST and SB Cloud is set to give blockchain as a service a new lease of life and the IOST coin’s role I fuelling the growing economy is a venture to watch.
Japan is a rich cloud computing market and will acts as IOST launching pad before extending its tentacles to the rest of the world and this will have a positive impact on IOST price value and surge. The results of the partnership will also improve cloud computing serves which is good news for the traditional consumer.
IOST (IOST) Current Price Check
Despite the current crypto verse meltdown,IOST (IOST) has remained a stable token and has for the last seven days stayed on the green trading zone. The current IOST token price stands at $0.020466 with negligible gains of 4.89% to the green buck, 5.12% to Bitcoin and 5.20% to Ether.
The support from Huobi and Binance through the incubator firm Bluehill seems to be working well with the two moving the highest volume during the last 24 hour trading session. This is a coin to watch and one that investors can stake on so as to reap the near future benefits of price surge as well as value traction.