iota coca cola

Will IOTA Cryptocurrency Be used to pay for Coca-Cola Products Soon?

June 18, 2020 Off By Steven Anderson

IOTA developers are busy with the preparation for GoShimmer implementation.  The GoShimmer v0.2.0 release for IOTA is planned to occur towards the end of June.  This release is considered to be a significant release from IOTA because it is set to support value transactions and conflict resolution through FPC.

IOTA tweeted:  “Research Status Update June 2020 – We have a few exciting status updates to share with everyone this month, including information on the next version of #GoShimmer with #FPC & value transactions.”

Sydney Ifergan, the crypto expert tweeted:  “IOTA focuses on several things but it is well known in the cryptocurrency space for being of good in the development of smart cities.”

Dominik Schiener, Co-founder of IOTA, recently was excited about how the ecosystem around IOTA has been buzzing.  He stated that he was feeling really great to see projects like senseering to be part of their community to develop IOTA based solutions for the market.

Of note Senseering are working towards Internet of Production, Data Economy based on AI, Blockchain, IOTA and innovative business models.

Several projects from IOTA seem to be impossible, but when they are done, they are soundly done.

IOTerry, Serial Entrepreneur tweeted:  “Buying a Coke with Bitcoin makes no sense because the transaction fee could cost almost as much as the product. But IOTA would be the right choice here.”

This he stated in response to a publication on Coin Desk which titled, “More than 2,000 vending machines in Australia and New Zealand will let customers buy a Coke with bitcoin.”

Dorian Johannink, Sylo co-founder and Business Manager stated, “But for the Coke scenario, it’s just supported for bitcoin initially for the trial run, but we may extend the functionality.”

It is clear that Sylo Smart Wallet is not focused on Bitcoin as a payment form, but they are working on their vision of connecting crypto and the real world.

Johannink stated, “People are testing it out now. If it goes smoothly, we can roll it out pretty quickly.” 

One of the IOTA enthusiast have to say,A bank will be able to issue physically backed colored coins on the IOTA tangle coloring 1I per unit (e.g. $ cent or fraction of a $ cent). This will result in unconquerable competition for the native token in the field of feeless payments. Prove me wrong!

IOTA are not really out in the real sense the world is yet to witness their realistic potential.