Bosch Intends to Adopt IOTA

One of the leading engineering companies is going to try out IOTA for autonomous cars project
12 February 2018   1425

Sarah Nizze, Bosch’ manager of IoT marketing, announced on Twitter that the engineering company is going to adopt IOTA in their plans for autonomous vehicle development.

This news comes as Bosch opens its first IoT hackathon of the year in Berlin, on February 20-22 with five hack challenges. One of them is focusing on autonomous vehicle market.

Last year Bosh reported that it has partnered with electromotive specialist Tesla to produce the first self-driving car.

Bosch officials believe that IOTA’s data marketplace will provide the basis for autonomous vehicles interaction. It will help cars to communicate with each other independently.

The Bosch’ team explained how cars will financially benefit from platooning. Autonomous cars will be able to follow a lead car to reduce fuel consumption, whilst sending micropayments across the Tangle network to compensate the lead car for sacrificing theirs.

Last year in December, The Robert Bosch Venture Capital firm (RBCV) was reported to have bought a significant amount of IOTA’s MIOTA tokens.

Now, RBCV will play a key role in ensuring the longevity and success of IOTA’s future development.

According to Bosch’s senior technological scout, Tak Dekel, this action represents Bosch’ transformation from a hardware company to a company that deals with data and monetization of data.

Jaguar Land Rover to Partner With IOTA

As their ultimate goal, developers call the reduction of accidents and traffic congestion; these news had great impact on token's price
29 April 2019   415

The largest British automaker Jaguar Land Rover has started testing smart contracts based on the IOTA blockchain. According to Reuters, the program being developed is a smart wallet embedded in cars.

The new service will allow participants to receive IOTA tokens for providing information about road congestion and road pavement status, as well as for participating in the ridesharing program. Subsequently, drivers will be able to spend them on paying for parking or charging electric cars.

As their ultimate goal, developers call the reduction of accidents and traffic congestion.

It is known that this technology will be used in Jaguar F-PACE and Range Rover Velar. The launch date of the software for the mass consumer is unknown.

IOTA 24h Price Chart
IOTA 24h Price Chart

These news had great impact on the IOTA price. It rose for almost 14% in 24 hours and is being traded around $0.3.