IOTA Price Bucks Market Trend as Foundation Goes on Hiring Spree

IOTA (MIOTA) managed to resist the market downturn leading into Tuesday, holding its value level while the rest of the major alts took a plunge.

In contrast to the recent spate of redundancies and layoffs which hit the crypto scene in the last few weeks, the IOTA Foundation has been on a hiring spree of late. Yesterday the foundation added two new staff members to its ranks, showing that projects don’t necessarily have to live and die by the price of their coins.

The new staff come at a time when IOTA have decided to restructure their entire operation – namely by taking it down the bimodal path. Essentially, the foundation has split itself into two wings – Alpha and Omega, each of which will handle different aspects of the project, as per today’s announcement.

IOTA News

On Monday the IOTA Foundation hired a new Head of Strategic Projects in the form of Janna Zielinski, a   digital strategist who previously worked for several firms in the DAX 30 – a stock exchange of major blue-chip, German companies.

As per the blog post which announced the appointment, Zielinski was quoted as saying:

In parallel to this organizational development, the business potential of Distributed Ledger Technologies has raised an enormous awareness across corporates and startups, as well as across industries and ecosystems. I am looking forward to actively contribute to the business model development.”

Also announced at the same time was another new hire of the IOTA Foundation, Mariana De La Roche Wills – a Colombian human rights lawyer, and serial entrepreneur. Mariana emphasized the potential for IOTA to make an impact on a social level, based on the strength of its underlying tech:

It is inspiring to see how IOTA is getting involved with governments and intergovernmental organizations around the world to create real-world use cases for DLT & IoT that serve the public interest.”

Bimodal IT

Bimodal IT is the concept of splitting up your workforce into two disparate groups which are then allowed to focus on specific, isolated areas of the task. In IOTA’s case, this means splitting the team up into the groups Alpha and Omega.

Alpha will handle the internet side of things, while Omega will be focusing on ‘fog services / edge computing — the Internet of Things vision of IOTA’, as per today’s post.

IOTA Price – MIOTA/USD

Almost 27% of MIOTA’s daily trades in the last day have come directly against the U.S dollar thanks to the Bitfinex and Exrates exchanges – outweighing even USDT trades.

The MIOTA dollar valuation was level over twenty-four hours at time of writing, although the coin’s data charts suggest more volatility – perhaps down to prices and/or volumes being excluded and included over the course of the day.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.