Business Update: What’s Happening to Project IOTW as the Cryptocurrency Market Slows Down

As everyone is getting situated to the recent cryptocurrency market dips and dives, IOTW is launching our testnet next week on December 12th!! WOOHOO!! You must be thinking any one of these in reaction to our launch news: this is crazy, what a terrible time for launching testnets, why are you doing this in light of the market status quo. To give you some context, crypto exchange-traded funds is not doing so hot and the total market cap right now stands around USD 125 billion. Like they say, when it rains it pours.

On the flip side, Project IOTW continues to work with the 500 Startups Accelerator Program to raise funds, collaborate with unique blockchain projects, and to develop a network of people stoked about the applications we have to offer. The testnet to be launched on December 12th is aimed at allowing consumers to test the platform, experiment with the project’s features and for IOTW to gather data about users’ experiences. It’s an excellent way for you, as consumers, to learn and practice how to sustainably mine cryptocurrency tokens using this project. Some of the testnet’s features include:

● a full infrastructure for connecting IoT devices
● a mobile wallet application to collect rewards from micro-mining using connected IoT devices
● an integrated e-commerce application for making purchases with mined testnet coins.

(The picture shows parts of the outlook of IOTW Wallet and the product “Beach” sold in the “Shop” is not real.)


What’s in it for you in signing up for the testnet, downloading the wallet and giving us a try? We are running various giveaways for light bulbs, IoT plugs, IOTW tokens (i.e. the real kind), laptop stickers, branded tees and other tchotchkes from launch date December 12 till March 2019 when TestNet becomes MainNet. These giveaways can only be entered using the TestNet tokens mined. Please note that the coins are not real. They are for testing purposes only! We welcome your thoughts, concerns and voices as we built this platform to gather notes on user experiences. Feel free to share your views on our Telegram communities here:

A community highlight from last week: our captain and CEO Fred attended the Consensus Invest Summit in New York. His fireside chats with industry leaders concludes that cryptocurrency will rebound. On the other side of the globe, our Head of Business Development Kartik and PR & Marketing Officer attended Fintech on the Block conference in San Francisco. They spread the word about our project and how it will help achieve social goals and connected with engaged blockchain enthusiasts. Go Team! And, if you’re really curious about Kartik, read more here 🙂

Until next time,
Pranav Burnwal
Principal Blockchain Engineer & Business Strategist


P.S. Our private sale is still open. If you would like to contribute to the most advanced IOT platform, please write to us at For more token details visit

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