IOTA Founders Clarify There Is “No Formal Partnership With Microsoft”

There has been a lot of overrated hype in the media about IOTA and it’s new marketplace beta which will prove as a testing ground for the cryptocurrencies driver, The Tangle. Many popular news outlets and blogs have been claiming that there has been some sort of formal partnership between the IOTA Foundation and Microsoft. This is most definitely untrue.

Microsoft has addressed the stories, stating there was not any kind of formal agreement.  “IOTA is a Microsoft Azure customer and plans to use Azure to test and deploy its Data Marketplace.” said a Microsoft Spokesperson. However, Microsoft blockchain specialist Omkar Naik definitely did say, “We are excited to partner with the IOTA Foundation and proud to be associated with its new data marketplace initiative.” So it’s really Microsoft’s fault for all the misinformation that has been spread.

The IOTA Foundation responded. “We have never mentioned that any of the companies which are participating in the marketplace are our ‘partners,’” co-founder Dominik Schiener told TNW over email.

“We are in touch with multiple divisions at Microsoft (Chicago, Paris, Munich),” he continued.  “We are hosting two meetups today in Chicago and on Thursday in Paris which are hosted at the Microsoft offices.”  The purpose of the meetups is to show The Tangle’s potential and the applications it could have on a bigger scale.

It is true that the IOTA Foundation never stated that they indeed have a formal partnership with Microsoft. Their statement from a week ago said:

Participants from all sectors and industries are represented, companies such as Deutsche Telekom, EWE, Microsoft, Bosch, TINE, PwC, Accenture, Fujitsu, Schneider Electric, Orange, DNV GL, and many more have deployed sensors that directly sell the data on the marketplace.

Whether they’re partnered or not, it doesn’t really matter. These are very exciting times for IOTA but it’s about to go through its biggest test yet though.  If its scalability and performance can be improved, then IOTA could become one of the most promising cryptocurrencies yet. Remember that even Bitcoin and Ethereum are still relatively young, and there’s no telling what could happen around the corner.

Learn more about IOTA.

Header image via Film Edge

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