IOTA Among Gainers as Markets Revisit its Car Insurance Plans: IOTA has been consolidating around $0.5 for over a month, and Monday showed a 5% surge to test $0.6. However, it’s still stuck below the daily cloud on the Ichimoku Kinko Hyo technical indicator, while supported by $0.43, which is the low of mid-August 2018, and near the all-time low levels.

Monday’s surge could because of the recirculation of a report from the end of September which revealed different potential use cases for IOTA, including revolutionizing the car insurance industry. More specifically, IOTA revealed in a recent tech event in Toronto how your car can insure itself using the IOTA’s Tangle technology. Tangle can host your car’s real-time data, allowing your car to choose the best insurance plan based on its current situation.

IOTA may also be able to eliminate fraudulent payments, which can result in significant cuts in insurance costs. Ranked number 12 based on coin market cap, IOTA’s token, MIOTA, has a circulating supply of over 2 billion.

The IOTA project is inspired by the Internet of Things to make machine-to-machine communication more efficient.

Now I’d like to hear from you. What do you think about the IOTA project and its token? Do you think their ideas are just wishful thinking or they have a shot in really change the car insurance landscape forever? Let me know in the comments, and subscribe for more updates!

Don’t forget to complete your risk management due-diligence before developing your investment strategy.

By Yoshiko for InvestDiva.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.