IOTA Partners with Volkswagen to Promote Tangle-Drive Proof of Concept

IOTA Partners With Volkswagen To Promote Tangle-Drive Proof Of Concept

IOTA and Volkswagen have decided to sign a partnership to use the Tangle platform created by ITOA to power a proof of concept in the automotive industry. The information has been released by the Chief Digital Officer of Volkswagen, Johann Jungwirth on June the 9th.

IOTA’s New Partnership

As the report uploaded by Mr. Jungwirth says, by 2020, industry experts predict that more than 250 million vehicles will be connected on the road. IOTA believes that it can become the underlying protocol for car makers and suppliers so as to ensure updates and transparent access to audit trails.

This is a very important partnership that will allow IOTA to show everything what is capable of. The Volkswagen Group is one of the most important car manufacturers in the world, and has 120 production facilities in 31 different countries all over the world. In 2017 alone, Volkswagen delivered more than 10,700 million vehicles.

Johann Jungwirth, commented about it:

“Distributed Ledger Technologies (DLT) are crucial for the future of trusted transactions. IOTA has great potential to become a DLT leader with the Tangle approach.”

IOTA has been working to develop an autonomous machine economy for IoT (Internet of Things) devices. Within its system, these IoT devices can communicate, transact with each other using the Tangle and work together sharing information.

This demonstration for the Automotive industry will be on June the 12th at the Cebit 2018 conference in Hanover. The panel discussion presented will be known as ‘Blockchain in Future Mobility,’ and the core goals of the project between these two companies is to show what blockchain technology is capable of.

This is a very important step for Volkswagen as well, which has been involved in recent years in scandals related to some diesel cars.

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