IOTA (IOT) partnership with Tokyo-based Giant Fujitsu leads to a spike amid falling markets

• Fujitsu hopes to improve transparency, data trust as well as data security with the integration of IOTA.
• Fujitsu will also combine IOTA Tangle with its PalmSecure Palm Vein Pattern Recognition Technology to achieve proper identity and Access Management.

IOTA has been flying the spike flag so high today, Monday 27 following a tremendous surge triggered by partnership news. As covered by FXStreet, the price went up over 15 percent on the day. At time of writing IOTA is trading at $0.5849, although it has trimmed gains, it is still up 4% on a daily basis. The trading volume has also grown considerably from $34,335,000 at the close of the session yesterday to $67,569,257 at the time of writing. The positive change is also reflected in the market capitalization which has gone up from $1.5 billion to $1.6 in the same period.

Fujitsu is a multinational IT equipment firm based in Tokyo, Japan. The company has released a report that explains the employment of IOTA blockchain as an incorruptible data storage medium specifically for their audit trail process. In addition to that Fujitsu will incorporate the blockchain in both its manufacturing and supply chain verticals with an aim of improving transparency, data trust as well as data security. A section of the report states:

“Fujitsu is well-equipped to help roll out IOTA as the new protocol standard as we are experts in both IT services and the manufacturing of IT products.”

The report went ahead to say that for audit trails in industrial production ecosystems and supply chains, IOTA ensures a single source of truth. Fujitsu will also combine IOTA Tangle with its PalmSecure Palm Vein Pattern Recognition Technology to achieve proper identity and Access Management.