An IoT IOTW enterprise, AnAppBlockchain Technologies Limited (“AnApp”) has teamed up with The California Wine Company and Consta Mobile. The new move is part of the expansion strategy that will further the adoption of the network of IOTW as well as its native virtual currency. Consta Mobile offers services in telecommunications and serves as product supplier while The California Wine Company limited is a leading wine distributor from California for different countries in southern Asia including Thailand.
Partnerships to promote IOTW blockchain-based technology
Through this agreement, mobile devices will welcome Proof of Assignment, which is the company’s micro-mining protocol. Simultaneously the wine company from California will start accepting the coins of IOTW for sales. The strategic partnership could serve as a major landmark in the process of promotion, as well as adoption of technology based on IOTW blockchain. The arrangement facilitates the way in which mobile users can start mining IOTW coins and also use it to purchase wine.
The arrangement could help fulfill the protocol according to which an entire ecosystem of IOTW works. Mining a cryptocurrency requires a large amount of power as well as energy for processing and as of now, only a few professional players have been serving as a power source for mining. However, things stand to change with the introduction of IOTW technology that is based on blockchain and has an entirely different architecture.
The Co-founder and CEO of the company, Frederick Leung while expressing his views on partnership stated, “We are excited to be forming partnerships with Consta Mobile and The California Wine Company Limited. We are currently working on more partnerships with world-leading names and will be announcing them in the near future.”
Blockchain platform for banks introduced
In other news blockchain technology has been introduced into the financial world with major players like IBM (NYSE:IBM) launching a new platform enabling financial institutions to share, deploy and use services on a blockchain network. Nine financial institutions have decided to become a part of this platform. Some of the prominent names that have shown interest in joining the new blockchain-based platform include Barclays PLC (ADR) (NYSE:BCS) and Citigroup Inc (NYSE:C). The platform will serve as an app store offering solutions initially using distributed ledger technology (DLT).