IOTA Is Radically Advancing the Internet of Things
September 11, 2018 BY Lesia Dubenko
IOTA, the German open-source distributed ledger, has already struck a deal with three giant companies — Bosch, Volkswagen and Fujitsu. Now, it is expanding the projects which are aimed at creating the IoT, including driver-less cars.
IOTA is continuously growing. Just recently eToro, the social trading network, has added support for it on its platform. However, the main focus and point of pride is its successful cooperation with the biggest manufacturers around the world. 2018 has been described as a festival year for the company: during it, IOTA showcased numerous technologies which Vitalik Buterin, taking into account his recent call for more real-life applications of blockchain and crypto, will most likely appreciate.
To begin with, IOTA thinks big: It wants to revolutionize the Internet of Things industry through its blockchain technology. And many companies share that vision. For example, Bosch, the multinational engineering and electronics company headquartered in Germany, has noted that “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.”
At the end of last year, Bosch introduced its new sensor XDK or Cross Domain Development Kit — “a programmable sensor device & a prototyping platform for any IoT use case you can imagine.” The kit uses IOTA Masked Authenticated Messaging.
German cars and technology
Concurrently, Volkswagen, part of the German multinational automotive manufacturing company Volkswagen group also headquartered in Germany, together with IOTA has presented a new proof of concept at the CEBIT 2018 event. The car manufacturer is set to incorporate the tangle technology into its products in order to ensure that the cars are equipped with the necessary data for running updates. This way it wants to ensure that the future of technology is advancing, for example, that the driver-less cars (they will be around quite soon) are functioning properly on the road.
The cooperation is so beneficial that Johann Jungwirth, the Chief Digital Officer of the Volkswagen Group, has joined the IOTA team this year as a member of the Supervisory Board.
The Japanese company Fujitsu is no less keen to take advantage of IoT and the IOTA technology, particularly. Hence it is willing to use the tangle in order to make manufacturing more efficient and is prepared to offer the IOTA test project to its customers in the manufacturing and automotive industries.
Leopold Sternberg, Program Manager of Fujitsu’s Industry 4.0 Competence Center, has noted: “Fujitsu is well-equipped to introduce IOTA as the new protocol standard because we are both experts in IT services and manufacturing IT products.”
Interestingly enough, Fujitsu already sees IOTA as the new protocol standard and firmly believes that it will play a key role in Industry 4.0. To this end, Dr. Rolf Werner has used the example of the Fujitsu Live Show Case at the HMI 2018 and explained how smart factories work and what IOTA offers. Two mini robots were used to show how “the tangle that forms the basis of a distributed ledger — can help identify and self-evict product manipulation.”
He has also embraced the technology noting that there are many ways of using decentralized and secured applications based on the IOTA Tangle as a DLT. All of them are very potent and highly applicable in real-life. For example, it is possible to ensure tamper-proof monitoring of the supply chain and secure identity management.
“I’m delighted to join the IOTA Foundation Supervisory Council to provide a journey that will be meaningful for lots of industry sectors worldwide,” he noted.
While the fruitful cooperation of IOTA with world-leading corporations is promising and has earned the trust of Oyster Pearl (PRL), a cryptocurrency project looking to become “the future of website monetization and distributed storage,” currently its coin, MIOTA, trades solely at 0,54%.