In the latest testament to the incredibly diverse applications of blockchain and cryptocurrency technology, IOTA has recently announced its intention to partner with car manufacturer Audi in an attempt to provide mobility solutions for an evolving world. To be specific, IOTA has partnered with Audi Denkwekstatt, the subsidiary think tank for the esteemed car company.
The companies initially partnered to explore possible Tangle-based cases, coming forward earlier this year with an initial prototype in order to gather and respond to feedback from initial testers. The official Twitter handle for IOTA Token outlined that the foundation is working with IOTA to “explore Tangle-based mobility use cases.
Audi Think Tank
The Audi think tank is the organization run by the larger Audi Corporation which is tasked with exploring solutions to some of the problems facing mobility in the modern era. The tank is comprised of fifteen partners from nearly every conceivable financial background.
In particular, the think tank has been especially concerned with modernizing transportation in an increasingly urban world setting. The think tank recognizes that many parts of the world are becoming increasingly infatuated with a city style of living. Their current research concerns how to revise mobility to fit this change to mobility needs.
For IOTA’s partnership, the think tank is primarily concerned with working with IOTA to come up with innovative mobility solutions that use blockchain technology to fix key problems that exist in the status quo. IOTA elaborates on their blog, stating that their “open source protocol” is particularly apt to assist in solutions that rely upon “trust in data and transaction settlement.”
For the automotive industry, this could mean several things. In particular, the creation of an Internet of Things (IoT) environment for communicable transportation devices could benefit greatly from the platforms created on the IOTA network.
Tangle sits at the core of blockchain technology. As opposed to the traditional blockchain used by Bitcoin and Ethereum platforms, tangle uses the Directed Acrylic Graph (DAG) to facilitate its makeup. It helps to solve the problem of transaction fees and interval problems on the native blockchain, doing away with efficiency issues and charging no transaction fees.
It is unclear thus far what the exact goal of the partnership might be in regards to IOTA and their Tangle technology. Some Redditors have speculated that fully electric vehicles might be on the agenda, and that these electric vehicles might rely on the internet of things optimized by Tangle in order to effectively operate, navigate, and communicate.
Many analysts are both surprised and excited by the recent announcement of partnership between IOTA and Audi. The partnership follows closely behind another announcement that the startup is working with Porsche and Volkswagen. The trend of involvement with car companies says something both for the success of IOTA as a startup tech company and the direction in which the industry is likely moving.
More information is expected to be released as the details of the partnership become clearer.