IOTA foundation has selected ten outstanding projects to fortify its blockchain system out of over 210 ideas submitted and reviewed by the blockchain. This was made known by the IOTA foundation through a press release that its perfect brainstorm was a success.
Selection of Ten Outstanding Projects By IOTA Foundation
The IOTA foundation has selected ten outstanding projects after its perfect brainstorming which was described to be a success. The selection process of the top ten was reached after the screening of over 210 projects.
The prize given to the selected ten project is an IOTA branded Ledger hardware wallet each, and the too three projects got cash prizes.
The Top Three Projects Selected
The top three projects selected are that of Vessel Demurrage & Dispatch innovated LogIOTA Aid System and Circular Energy Management.
Vessel Demurrage & Dispatch innovated’s project is for the shipping industry by Leif Arne Strømmen and Erik Aadland. The idea of the project aims at the use of the IOTA tangled to disrupt the shipping industry that which accounts for 90% of the world’s trade annually. The project involves the automation of recording the arrival and the departure of any ship with the geofencing and AIS signals. This will allow the port to automate invoicing of all fees to the vessel.
Johannes Schroth designs LogIOTA Aid System. This project involves the use of flash channels to achieve the distribution of water and the control of its consumption with the aid of micropayments.
And the third which is the Circular Energy Management created by Nicolas Schteinschraber and Federico Gonzalez deals with an urban setting. This is dedicated to the smooth running of power rental and sharing services.
Other projects that made up the top ten that was chosen by the IOTA foundation are CO2Ta, Smartes Bauwesen, monitorIOTA, Haystack Protocol, RaspiTIN and others. CO2Ta is an innovation that Track Emissions using IOTA, Water quality backed by the Tangle.
IOTA blockchain has been prominent in the blockchain space with its role in furnishing the IOT world with numerous innovations that have the potentials to change the internet industry completely.
The grand pace that has been taken by the blockchain in the space has accrued to it the status of the future of internet of things. The partnership the IOTA foundation in recent time has further proven that the blockchain is ready for the future of IoT.