IOTA Foundation and the City of Austin, Texas Partner to Optimize the Transportation Systems
In a week of success, the IOTA Foundation, team and the community celebrated two large partnerships – the first with Jaguar Land Rover and the Austin Texas transportation body. The positive news on IOTA saw its price boost 14% earlier on Monday as markets caught on the news. The price has seen approximately 7% reversal since hitting a weekly high of $0.32466 USD to trade below the $0.30 USD mark for the first time since the release of the news.
One week chart showing the spike in the price of IOTA after the partnership with Jaguar Land Rover
The field of blockchain is slowly spreading its roots across the global economy and IOTA (MIOTA) is playing its part in full. The company is in a quest to bring blockchain technology and its solutions to the automobile industry. The recent partnership with Austin, Texas top official transportation body, ATX, is the latest testament. The partnership aims to improve the overall transport system in the city. The solutions are targeting the 1 million population and better systems for the people.
The two companies held a meeting on Monday, April 29, 2019 at the University of Texas (at the Engineering Education and Research Center) initing top officials to speak on the partnership. The panel included IOTA Foundation’s Co-founder, Dominik Schiener, Robert Spillar (Director of Transportation, City of Austin) and Jason JonMichael (Assistant Director of Austin Smart Mobility).
Dominik Schiener, co-founder of IOTA Foundation speaking at the University of Texas during the meeting with ATX
The session started off with Robert Spillar giving an introduction on the overall transportation system in the City of Austin. Jason then offered his piece on the future of Smart Mobility in Austin.
Speaking on the impact of IOTA ecosystem on the City of Austin, Dominik explained that IOTA is set to build smart networks that connect to smart machines such as the automated cars seen today. He further strengthened the argument for using blockchains across the internet of things (IoT) technologies to enhance trust on the network and the trust in transaction systems.