Despite been an open source project, IOTA (MIOTA) has decided to finance 3 outstanding projects in its ecosystem to better expand its tentacles and become more productive in the Internet of Things (IoT) space.
According to IOTA, the support is a reflection of charitable contributions from the IOTA community to the Ecosystem Development Fund. The projects are to be supported until they can stand and compete in the technology world.
In a statement by IOTA announcing another cohort of fantastic open-source projects the Ecosystem Development Fund has decided to support, nothing less than $354,000 USD has been set aside to up the potential of these projects to a good taste where they can contribute meaningfully to the development of IOTA ecosystem.
Untangle Care ($234,000 USD)
One of the project to be supported is IOTA’s (MIOTA) Untangle Care. The aim of the Untangle Care project is to advance major IOTA-based tools that has the potential to allow inflow of healthcare data between healthcare institution-based solutions (i.e. Electronic Medical Records) and patient-based solutions (i.e. Personal Health Records) in a safe, frictionless and healthcare-interoperable manner.
Bytes.io ($70,000 USD)
Another project to be supported is Bytes.io. The projects sees possibility in a P2P Internet Access system through which machines/users having extra bandwidth trade their excess to users/machines who are in need. However, this happens in an automated but accurate manner.
The Byte application does the work of matching those who intend to sell and those who want to buy within specific radius and permits them to exchange IOTA tokens for bandwidth.
The services include the capacity to buy/sell Internet access in one’s bus ride or in airports or in any city centre. It also includes sharing internet with one’s neighbours.
IOTA (MIOTA) Industrial Lab Aachen ($50,000 USD)
The IOTA Industrial Lab Aachen (IILA) offers a state of the art laboratory for research in Industrial Internet of Things, Distributed-Ledger-Technologies, Machine-to-Machine communication, Machine Economy among other IoT related studies that require deep exposure to laboratory ideas.
Those behind IILA are up and doing by supporting IOTA Ecosystem with necessary contribution and they have been at the front doing this for the development of the community. With the support IOTA (MIOTA) is offering them, there is high potential they add more to the ecosystem.