“Digital CarPass” From IOTA And Volkswagen To Track Car Performance, Launches In 2019
Blockchain technology is all about expanding and working together, which is probably why there are so many partnerships in the industry. Every company has services worthy of being offered to others, which is exactly the case between IOTA and Volkswagen. They announced collaboration in February this year, but their new project was only recently announced, which has been predominantly made in effort to promote IoT (Internet of Things) in the auto industry. This duo is teaming up to apply their skill sets to a new product called Digital CarPass.
Digital CarPass will not be available for consumers until the first quarter of 2019, but the goal is that this new product will work with the network to track information on Volkswagen vehicles. The technology will track details like mileage to ensure that their vehicles are working at their best ability. This is only one project going into effect, based on the information provided by Benjamin Sinram, who is the head of blockchain at Volkswagen.
Volkswagen presently has five blockchain pilots in the works, though Digital CarPass is leading in progress. This project will mark a major milestone in the collaboration with IOTA, though a public test will be the best way to see how effective the technology is. More specifically, the goal is to expand the IoT into a larger industry, and this product is the first of many ways to do so.
Internet of Things is defined by Dictionary.com as “a network of everyday devices, appliances, and other objects equipped with computer chips and sensors that can collect and transmit data through the Internet.” This concept is fairly simple to integrate for many companies, like auto insurance companies that offer a device that can track their customer’s driving habits, or even the chip that is being added to many debit cards and credit cards for added protection. With blockchain technology becoming more prevalent, experts believe that the IoT industry will impact 20 to 30 billion devices by 2020 alone.
Along with Volkswagen’s desire to integrate blockchain with IOTA, many other auto companies have established the Mobility Open Blockchain Initiative (MOBI). MOBI is presently a collaboration between Renault, BMW, Ford, and General Motors. IOTA has decided to collaborate on this project as well.
Experts believe that integrating DLT ledgers with the automobile industry could improve efficiency in the marketplace, improving communication between stakeholders. With the data collected with Volkswagen, the companies can get real-time details on every vehicle for potential and upcoming repairs. Recalls become exponentially easier to identify. The data could also help customers discover the best time for inspections, along with the nearest garage that is capable of performing it.
IOTA is essentially taking on an operation that could challenge the entire auto industry in a way that would improve it beyond where it is right now. The Tangle technology from IOTA handles scaling issues better than DLT alone. IOTA is also working with the government in Taiwan to digitize identifying information for a “smart city” in Taipei.