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.