20 Jun 2018 Arjun Agarwal
IOTA Reshapes the Smart Automobile Industry
Following the negotiations earlier this year, IOTA impressed the big players in the automotive industry with its innovative model – the Tangle protocol.
Volkswagen and IOTA became the center of attention at CEBIT’18 with the announcement of a product release in 2019 and the publication of its Proof-of-Concept.
Through decentralized information sharing, Tangle’s implementation will allow the distribution of software updates to Volkswagen’s smart cars in real time, no matter the location. It will also be the communication bridge between the driver and the car. For example, Tangle will allow drivers to check how many miles the car has driven.
Furthermore, IOTA’s protocol will secure the cars’ software from any malicious attacks.
The flexibility of the innovative network allows its integration into a Mobility-as-a-Service system that would allow trip planning, booking, and payment services within the vehicle’s ecosystem. Such options will transform passengers' travel experiences entirely.
The success of the project will be strong enough to win back customers’ interest and help VW recover from the false advertising scandal related to VW’s diesel cars emissions.
The project is also an opportunity for IOTA to become the leader in the niche of autonomous cars which is about to evolve and develop in the next decade. Experts predict that a total of 250 million cars will be connected by 2020.
Many of the big players in the industry are already shaping up concepts, models, and technologies, including Porsche and a partnership between Daimler and Robert Bosch Group.
The partnership aims to launch the first ever self-driving taxis, allowing people to order an autonomous car through their smartphone. Another result of the successful implementation of the project would be a higher interest towards car sharing.
At the beginning of June IOTA partnered with BMW, GM, Ford, Renault, Bosch, Hyperledger, and IBM on a Mobility Open Blockchain Initiative (MOBI) for the transport industry.Blockchain IOTA Internet of things cryptocurrency news crypto news