Cryptocurrency and blockchain technology was invented as an alternative to the current banking system and fiat currency. The technology comes with its benefits which the banks are also interested in.
In a recent blog post by the IOTA foundation, a cooperation between Den Norske Bank, the biggest bank in Norway, and the IOTA foundation was announced. This cooperation is made in order for both parties to learn from the other party’s respective field.
What is really exciting here, is Den Norske Bank exploring to what extent the IOTA distributed ledger can be used within their own operations. The tangle is a very unique kind of technology even within the world of cryptocurrency.
We have seen a couple of banks take interest in cryptocurrencies, but far more banks are taking interest in blockchain technology. This is, however, the first time a bank has been exploring IOTA for their own solutions.
The price of IOTA (MIOTA) has been rising throughout the last couple of days, even though the rest of the market hasn’t had the best time. At the time of writing, IOTA is valued at $1.83 per MIOTA, up around 5% in the last 24 hours.
Get the latest IOTA (MIOTA) price right here: https://useacoin.com/iota-price/