- The IOTA Foundation is set to expand its business footprint into North America
- IOTA uses its flagship Tangle-based blockchain solution to promote machine to machine economy
- Currently, the MIOTA token trades at $0.29
On April 19, 2019, the IOTA Foundation announced through a blog post that it will expand its business operations to the North American market.
IOTA Testing New Waters
IOTA, a distributed ledger technology-based project focused on the Internet of Things (IoT) facet of emerging tech has been on fire through the first four months of 2019.
The Germany-based project utilizes its eccentric Tangle blockchain solution to develop new and robust methods to create a new machine to machine economy. Until now, IOTA has mostly made its presence felt in Europe. This, however, can soon change as the IOTA Foundation recently announced that they’re mulling expanding their business footprint into North American countries namely the U.S. and Canada.
In their blog post, the IOTA Foundation noted that they have been building a strategy to expand business operations into North America for a few months.
Mathew Yarger to Lead IOTA in North America
In a bid to push its business in the continent across the Atlantic Ocean, the IOTA Foundation has promoted Mathew Yarger to the post of Public Sector Product Owner for North America. Yarger has also been entrusted with the responsibility to lead the organization’s operations in North America. He will be aided by Dan Simmerman, who was recently recruited by IOTA as Head of Financial Relations. T
The two industry stalwarts will work together to raise more awareness about the IOTA community in the North American populace. They will also have the services of IOTA’s U.S.-based advisors in Chicago, Calgary, Los Angeles, and Orlando at their disposal.
The blog post notes that the decision to increase business overseas was taken with the growth of the organization’s core technologies. Examples of this include the open-sourcing of various aspects of the IOTA protocol including the recent release of Compass, IOTA’s Open Source Coordinator and its subsequent transition to the mainnet.
It’s also worth highlighting that the IOTA Foundation has already fixated three events in the cities of New York City, Austin, and Chicago to foster the ecosystem in the U.S.
At press time, IOTA’s MIOTA token sits at 16th position on the CoinMarketCap crypto table with a market cap of just above $832 million.