IOT/USD: IOTA Foundation launches decentralized health passport amid COVID-19
Crypto News

IOT/USD: IOTA Foundation launches decentralized health passport amid COVID-19

  • IOTA aims at critical resistance created by daily SMA200.
  • IOTA Foundation developed an application for global health management.

IOTA is the 24th largest digital asset with the current market value of $550 million and an average daily trading volume of $15 billion. The coin has gained nearly 3% both since the beginning of the day and in the recent 24 hours. At the time of writing, IOT/USD is changing hands at $0.1997.

IOT/USD: Technical picture

On a daily chart, strong resistance is created by SMA200 at $0.2040. This MA has been limiting the decline since the beginning of May, while the price trade above daily SMA200 at the end of February. A sustainable move above this resistance will create strong bullish momentum and push the price towards $0.2100, the upper line of the daily rising Bollinger Band.

On the downside, significant support is created by a combination of daily SMA50 and SMA100 at $0.1800.

IOT/USD daily chart

IOTA creates decentralized health passport

IOTA Foundation and a law firm Dentons presented a distributed ledger technology-based (DLT) digital health passport called Selv during the Global Legal Hackathon. The purpose of the solution is to return people to their normal life amid the COVID-19 pandemic.

Selv is an application for global health management; however, unlike the majority of the existing apps, it is decentralized, free of charge and accessible to everyone across the world. Also, Selv complies with the European Union’s (EU) General Data Protection Regulation (GDPR).

The official announcement reads:

Lockdowns have slowed the spread of COVID-19 but have had massive economic impacts. Key workers must continue to provide essential services, posing a risk to themselves and others. Cross-border trade and movement have ground to a halt. A solution is needed for governments to verify individuals’ health status on a mass scale. Selv will help governments restart their economies.

Currently, Selv works in demo mode, which includes a mobile app on Android and iOS platforms and a web-interface. Users can store their health credentials and share their health status with authorities, employers, or peers in a secure manner.

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