IOTA continues to make its mark in IoT. One of the areas where IOTA seems to hold lots of potentials is in the auto industry. This is the one industry that is prime for disruption by DLTs and IOTA is right in the middle of it. IOTA (MOTA) has struck partnerships with major vehicle manufacturers like Volkswagen. However, the real deal that will help give IOTA a major role in this industry is the concept of platooning. According to the people behind it, platooning is,
“…a business model for vehicles to organise themselves in a platoon. Only the leader of the platoon will be controlled by a person, while the rest of the vehicles are driving autonomously. By using the Tangle, the platoon leader can get compensated in real-time for the leading efforts.”
This is an interesting concept that could see the IOTA tangle open up the driverless car market, and scale it globally. That’s because, it takes care of one of the biggest bottlenecks to autonomous vehicles, and that’s safety. With one car controlled by a human being and the others taking cues, autonomous vehicles can make much safer decisions. Besides, it provides a perfect opportunity for autonomous cars to learn how to react in complex situations where under current condition, they may not be perfectly suited to react.
Since the platooning model requires the compensation of the human-driven vehicle in IOTA (MIOTA), its adoption at scale could see the value of IOTA (MIOTA) rise significantly, due to the increased demand. This makes IOTA a potentially highly undervalued cryptocurrency. That’s because, it’s trading at historic lows, while its potential use case is growing. This mismatch between IOTA’s fundamentals and price, means that once the market gains enough traction, its value could grow significantly.
IOTA (MIOTA)’s undervalued nature is evident in the fact that it has a number of other use cases that stretch way beyond the car industry. For instance, due to the name it has established as the perfect DLT for IoT, it could make it big in different industries including the manufacturing of smart home appliances. All these markets open up amazing opportunities in the entire IoT market, which is projected to hit $5 trillion by the year 2025.
However, in the near-term, IOTA (MIOTA)’s prospects still remain under the control of Bitcoin’s price action. This means that as Bitcoin (BTC) rises, so will the value of IOTA. Altcoins are already gaining momentum, with a few of them, already going parabolic. If bitcoin breaks above $8000 and gains bullish momentum, fundamentally strong altcoins like IOTA (MIOTA) will begin to rally, and it’s a big deal.
If the 2017 move is anything to go by, then IOTA (MIOTA) hitting $10 or more in the next Bull Run is probable. That’s because, its technical development, adoption and market awareness is much higher than it was in 2017. This means demand will also likely be higher. Most importantly, IOTA no longer has the wallet issues that it was facing in the last bull rally. It’s definitely a bright ahead for IOTA (MIOTA).