Robert Bosch Venture Capital Invests In IOTA

The company intends to elevate the IOTA technology to maturity by bringing it closer to Bosch’s global ecosystem and key partners
19 December 2017   1946

Today Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group, announced that it has purchased a significant amount of IOTA tokens.

According to announcement, RBVC hopes to intensify the collaboration with the IOTA Foundation and intends to elevate the technology to maturity by bringing it closer to Bosch’s global ecosystem and key partners.

The purchase of IOTA tokens by RBVC is a strong vote of confidence for the technology and the ecosystem we have built over the years.

 

Dominik Schiener

Co-Founder, IOTA

RBVC states that it has been working with the IOTA team for more than one year. The company emphasizes that IOTA's innovative tangle technology could potentially become the standard underlying technology for trustless machine to machine communication, security and payment in the IoT space, adding that RBVC hopes to have the first go-to-market solutions ready by the end of 2018.

The investment follows the successful launch of IOTA’s data marketplace, with more than 30 leading companies worldwide participating, including Accenture Labs, Deutsche Telekom, Fujitsu, Orange, Samsung Artik, TINE and many more.

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   281

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.