Three big multinationals – Volkswagen, Bosch, and Fujitsu – have collaborated with IOTA to use its Tangle Technology to automate their products and services.
By Bhushan Akolkar
Updated
3 mins read
Blockchain projects that offer real-life and unique value propositions have succeeded to get visibility within the global industrial community. IOTA (MIOTA) is one such project with an aim to revolutionize the IoT (Internet-of-Things) industry through its blockchain technology.
The IOTA (MOITA) project gets a big boost with its strategic industrial collaborations with three big giants – Volkswagen, Bosch, and Fujitsu. The IOTA blockchain solutions cater to several different industrial applications. This year of 2018 has proved a great one for the IOTA community in terms of growth and development.
At the CEBIT 2018 event, IOTA and Volkswagen together presented a new Proof-of-Concept (PoC). The PoC technology carries a futuristic vision where Volkswagen can automatically update its car system and its products. With driverless cars making faster penetration in the market, Volkswagen plans to use IOTA Tangle technology for easy transmission of data and software to the vehicles, over the radio waves.
IOTA’s collaboration with the automobile giant could certainly prove to be a game-changer in the industry.
To interact with the IOTA Tangle technology, Bosch unveiled its new sensor XDK or Cross Domain Development Kit at the end of 2017. These sensors would instantly update Bosch products with new changes thereby taking automation to a new level.
While describing its vision for the Internet of Things, Bosch said:
The magic quality of the IoT is the connected world it makes possible: a world that’s getting bigger as the technologies linking devices become smaller, cheaper and faster.
Fujitsu, a Tokyo-based Japanese multinational, is working on an IOTA-based project to transform the manufacturing and automotive marketplace. Fujitsu believes that the IOTA Tangle Technology could set a new benchmark in IT services and manufacturing IT products. Smart factories implementing the IOTA Tangle technology will bring a revolutionary change in the manufacturing processes.
Dr. Rolf Werner, who joined the board of the IOTA Foundation, said:
The possibilities of decentralized and secured applications based on IOTA Tangle as a Distributed Ledger Technology are immense. They go far beyond machine-to-machine payment and include, for example, tamper-proof monitoring of the supply chain and secure identity management, just to name a few. I’m delighted to join the IOTA Foundation Supervisory Council to provide a journey that will be meaningful for lots of industry sectors worldwide.
The ability of the IOTA blockchain technology to work on real-life industrial solutions makes it a formidable player in the market. The price of IOTA (MOITA) token is $0.57 with a market cap of $1.6 billion at the time of writing, according to CoinMarketCap.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
