IOTA clarifies it has no formal partnership with Microsoft

IOTA has come out to clarify that it currently has no formal partnership with Microsoft, despite its announcement from earlier in November.

According to TNW, the Redmond giant has not yet contributed any data to IOTA’s marketplace, nor does it have any sensors connected to its network. Asked about its involvement in IOTA’s data marketplace, a Microsoft spokesperson told TNW that “IOTA is a Microsoft Azure customer and plans to use Azure to test and deploy its Data​ ​Marketplace.”

Having said this, the two companies are indeed collaborating on a series of technology innovation exercises with IOTA’s Tangle network, albeit without any signed agreements.

For the record, following Microsoft’s “participation,” IOTA’s market share has more than quadrupled from $2.95 billion to over $13 billion, according to Coin Market Cap.

IOTA’s founders made the following statement:

We have never stated that there was any formal partnership with Microsoft, and instead always referred to them as a participant to the marketplace. The media has overblown the story into a “IOTA launches Data Marketplace with Microsoft”, which couldn’t be further from the truth, as we are working together with more than 30 of the largest companies in the world on the marketplace as a co-innovation exercise. When it comes to our communication and the involvement of Microsoft, we have asked for written and explicit approval of the press release, quote and logo beforehand and have stayed within the boundaries with what we were allowed to do.

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Written by Brad Chillum

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