IOTA Invited In The Frankfurt European Banking Congress – Friday 16 November

This post was most recently updated on December 5th, 2018

The Frankfurt European Banking Congress (EBC) is one of Europe’s most important congresses of the banking and finance sector.

Many high-level representatives from politics, business, finance, and academia  will speak in the Congress, among them Mario Draghi (European Central Bank, Frankfurt am Main) Tobias Adrian (International Monetary Fund, Washington, D.C.) Olaf Scholz (Minister of Finance of the Federal Republic of Germany, Berlin) etc.

Looking at the Congress speakers this year on their official page a young boy on T-shirt appears among the formally dressed speakers. He is Dominik Schiener, The Chairman of the Board of Directors, IOTA Foundation, Berlin.

IOTA will be the only cryptocurrency present in this high-level economy forum.

But what is IOTA?

IOTA is a distributed ledger to power the Internet of Things with zero fees. This ledger is based on a technology called Tangle.

In order to send a transaction in the network a user simply needs to perform a small computation task that verifies two previous transactions. In this way, every user has the same incentives and rewards into participating in the network. So in order to confirm your transaction, you must confirm two previous transactions, and then your transaction is confirmed by some subsequent transaction.

The Frankfurt European Banking Congress (EBC) will be held on Friday 16 November 2018.

A Reddit user named “mufinz2” commented on the news:

Of course it is. I’ve been watching this space for the past 2 years and I still haven’t seen any of the “leaders of this space” (namely btc/eth/ripple) do any kind of real leading. They are still filled with maximalists and speculation-driven fanboys that make zero effort to try to acclimate their technology with the real world. Meanwhile I’m just watching IOTA get headline after headline of companies, organizations and political entities wanting to work with IOTA and get educated by them on how the technology works and how they can use it.