IOST, currently ranked as the 59th largest currency in accordance with the official ranking list and the market cap of around 98 million dollars, is represented as the Internet of Service Token, created and issued with the goal of becoming the foundation of the online services of the future.
Although IOST is still breaking through the market, with the frequent market dips making it difficult for the currency to show its full potential mirrored in its price, it seems that Chinese investors are getting curious of IOST, with the Internet of Services blockchain-based project drawing more attention.
IOST Might Become the Next Blockchain Project of Choice in China
Besides from Jimmy Zhong, the CEO of IOST token, has announced on September 4th that he is heading to Seoul, South Korea for more interviews and work as IOST is said to be getting popular in one of the largest technological centers in the world, it seems that the Internet of Services Token is also getting noticed in China as well.
The interest of China in the technology behind IOST was expressed months back at the end of March when the CEO of IOST was invited to speak of the Internet of Services and IOST on the Spring Blockchain Technology forum.
During his speech, Zhong talked about altering and digitalizing commerce, also presenting the technology behind IOST, which has drawn attention from scholars and professors from the Beijing University and Behang University, additionally having IOST supported by the Chinese press.
China seems to be pretty indecisive on the matter of regulating cryptocurrencies and digital assets, however, Chinese investors have by far supported QTUM and NEO, now showing an increased interest in IOST as well as in the Internet of Services, which somewhat represents a direct opposition, or more likely an alternative, to the Internet of Things that IOTA (MIOTA) and several more blockchain projects are exploring and exploiting.
IOST has been supported and covered by the Chinese media and newspaper more than once, and while the Chinese government is more likely to prefer Chinese-based cryptos than actually pose general bans on blockchain projects, so IOST seems to have a solid good chance of penetrating the Chinese market.
Moreover, IOST has attracted some major investors from China, which includes Angel Investors that IOST found in Sequoia Capital China and Zhen Fund, as seen on Binance, one of the largest and most popular exchanges in the crypto market.
What might be drawing Chinese investors and possibly the Chinese government towards accepting IOST as an alternative to the future of commerce, as IOST team is planning on creating an alternative to major commerce platforms such as Amazon and Alibaba, set to make the decentralized commerce ecosystem cheaper, faster and more efficient when compared to the way commerce is traditionally functioning.
In addition to offering a cost-effective and efficient commerce solution, IOST is said to bring more privacy as well as security for the future of e-commerce.
As of the current situation, more than 70% of IOST investors come from China, while it is expected to see IOST flourishing on the global level as well.
IOST and Resource 2.0: New Developments Upcoming
Besides from penetrating the Chinese market with over 70% of IOST investors coming from China, IOST is preparing new developments for the project, promising the ability to process over 100,000 transactions per one second, which would make the Internet of Services Token one of the fastest blockchain-based payment methods in the market.
Additionally, the team is promoting IOST as a highly scalable ecosystem for services and service providers, using the Proof of Believability (PoB) consensus mechanism.
IOST has also launched Bluehill, which is a blockchain incubator and accelerator set to provide support on the IOST blockchain for all interested investors, developers and service providers who are planning on building their business on the IOST ecosystem.
Bluehill has prior to being created, raised over 50 million dollars for the purpose of providing the support for developers and entrepreneurs, making seven new partnerships in the course of the last month.
IOST is also interested in the development of decentralized applications that should be a crucial part of the Internet of Services, so the team has launched Theseus project in order to support and empower Dapp developments as they are joining the IOST ecosystem.
The project clearly has a great potential, but it all depends on how further developments will be conducted.