IOTA Teams Up With Norway’s Largest Financial Services Group DNB To Explore Tangle Technology

IOTA Foundation announced that they are teaming up with DNB ASA which is the largest financial services in Norway and one of the largest in the entire Nordic region to explore IOTA’s Tangle Technology. They will primarily explore the Economy of Things and MyData/ “GDPR as an opportunity”.

IOTA signed an MOU with DNB which will be in effect immediately, the two parties are set to explore the use of Tangle Technology mainly around data privacy and personal data management which they term  “GDPR as an opportunity”.

IOTA mentions three main ways of implementation of this collaboration:

• Co-create and explore new business models
• IOTA and DNB cross-silo hackathons
• Privacy and Personal data management

DNB has been exploring the Distributed Ledger Technology for quite some time with R3 consortium and now hopes to use IOTA’s Tangle Technology. It is known that IOTA has been running data marketplace initiatives with Global giants like Bosch and Fujitsu.

David Sønstebø, Founder of the IOTA Foundation said:

Norway has always been a vanguard in adopting cutting edge technological paradigm shifts that improve the efficiency of our society, I am very excited at the IOTA Foundation which is spearheading Distributed Ledger Technology and IoT payments working with Norway’s largest financial institution on carrying this tradition onwards.

IOTA’s Business Development head also mentions that with this collaboration, IOTA will be put at the forefront of innovation in Europe as Norway is a part of the Blockchain Partnership signed by 21 EU countries to launch Blockchain based applications.

In other news, IOTA/USDT pair was added on Binance today.

The current price of IOTA stands at $1.74 and has seemed to have performed well in the past week, appreciating by almost 17% in the past week and over 10% in the past day.

The long-awaited Qubic announcements are also set to happen in 3 days from now. Qubic teaser was released earlier this month.

Justwall on reddit said:

United Nations last week…Trinity couple days ago..DNB. Q in 3 days. The tsunami is coming boys and girls.

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