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Connecting The World With IOTA

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IOTA (Internet-of-Things Association) announced a partnership with Microsoft and Samsung among other major corporations this past week to create a “data marketplace,” sending the price of the currency skyward this past week.[1] A 90% jump in the spot price of the currency has launched IOTA to the fourth largest market capitalization in the cryptocurrency space.[2] The organization is creating a foundation for the Internet-of-Things using a decentralized platform requiring no fees to allow devices to trade specific amounts of resources like data or energy in real-time.[3] In addition to data exchange, proposed applications include micro-transactions, voting, encrypted communications, and platforms for the sharing economy. Internet-of-Things (IoT) is a rapidly developing sector of technology working out the best way to create a connect the computers that run everything from the your phone and the electrical grid, to cars and the appliances in your home to the internet.[4] Connecting all …

Could This Be The Death Of The Dollar?

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Jim Reid of Deutsche Bank has joined the World Economic Forum,[1],[2] and a chorus of bankers, economists, and financial professionals in expressing serious reservations about the continued viability of the U.S. Dollar. A number of factors including the inflationary nature of fiat currency, the increasing significance of China's role in global affairs, and increases in automation have led many to question how much longer the Dollar will last as the world's reserve currency. The U.S. Dollar has been the world's reserve currency for over seventy years since the Bretton Woods Agreement in 1944 so it would be difficult for most people to remember a time when the Dollar didn't dominate the world's stage.[3] Could there be something to the idea that the Dollar could be gone sooner rather than later? The crux of this speculation rests upon the idea that Richard Nixon's decision to remove gold-backing from the U.S. Dollar in 1971 should have resulted in massive inflatio…