Partnerships play an integral role in the world of blockchain and cryptocurrency. Projects focusing on innovative concepts need to gain mainstream traction if they want to survive in the long run. The IOTA team has been actively working on forging key partnerships with some of the biggest companies which come to mind. The following examples are ranked in terms of perceived long-term potential.

Creating a partnership with software giant Luxoft has been a major milestone for the IOTA project to date. Through this collaboration, IOTA aims to optimize its Tangle protocol and unlock new features along the way. This partnership also encompasses the St. Petersburg Polytechnic University, which is one of the few academic institutions to focus its attention on IOTA at this stage.  

It is not uncommon for energy firms to focus their attention on blockchain technology. Through the Innogy Innovation Hub, the team is exploring IOTA technology to unlock the “Machine Economy“. This method of approach can turn any component into an economically independent machine. For regular consumers, this collaboration may not yield any real commercially viable products in the near future, but it will still help advance the overall development of this ecosystem.

Partnering with healthcare providers is always an option worth exploring for any cryptocurrency or blockchain firm. IOTA opted to forge an alliance with Alpha Venturi to form a new distributed ledger-based technology research network. This is one of the long-term projects IOTA is involved in at this time. It will take advantage of the advancing digitization of medical records and technology.

Micropayment systems with a focus on cryptocurrency can always benefit from adding new partners to their list. Collaboration is key in any industry, and cryptocurrency is no exception in this regard. Through this joint venture, SatoshiPay has taken the bold step to step away from Bitcoin technology and favor a more scalable solution. Settling micropayments often requires technology different for Bitcoin, primarily due to costs and efficiency concerns.

In this day and age, online identity systems are becoming a lot more popular. One unified identity to be used across different services and platforms can make life a lot more convenient for companies and consumers alike. IOTA and Evernym have partnered up to explore options pertaining to Tangle technology in this regard. Creating a new digital identity system will take a lot of time, but more competition is more than welcome in this space.

The biggest partnership for IOTA to date comes in the form of collaborating with Volkswagen. The automobile company has shown a key interest in the Internet of Things, as well as blockchain technology. IOTA offers the best of both worlds in this regard, thus it makes a lot of sense for firms such as Volkswagen to explore the options available to them.

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