A new interview with the website City A.M. shows that Dan Simerman, who is the Head of Financial Relations at the IOTA Foundation, is in the cryptonews now for speaking about the Distributed Ledger technology that the cryptocurrency is offering. According to him, the IOTA blockchain is superior to the one found in the corporate sector and there are two converging forces driving the use of cryptocurrencies as a result of COVID-19.
Simerman talked about the blockchain and many other things. He said that on one hand, the fear of a new outbreak could force governments to digitize money, which could also benefit cryptocurrencies. On the other hand, he talked about how governments will use the coronavirus as an opportunity to study alternative economic possibilities.
“Which is why I’ve been such a fan of IOTA since day one. Traditional blockchain architecture doesn’t support two critical elements for true adoption: Scalability and feeless microtransactions. By offering the ability to scale the network as participation grows, IOTA creates use cases to secure the data and value that is sent between humans and devices in future corporate, independent and smart city networks.”
Simerman talked about the IOTA blockchain and how it is superior to corporate blockchains – saying that the most promising use case is the link between the human and machine economies. As part of his field of activity, he also explained that the technical, legal and regulatory infrastructure still has some catching up to do when compared to the traditional world of finance.
Right now, Simerman works on how to build an infrastructure that allows individuals, organizations and possibly governments to make broad use of the technology. As he said, this requires a variety of systems, processes and approvals.
“Comprehensive legal and regulatory guidelines – many companies that want to use digital assets are still waiting for guidance in the form of formal legislation. Until that happens, it will probably be the more risk prone groups that start to incorporate digital assets into their business models.”
The IOTA blockchain is superior to many and could find adaptation faster and easier, as IOTA Foundation’s Simerman concluded. Meanwhile, the price of MIOTA in the IOTA news now is at $0.2428 with a new 2% decline.
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