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   1318

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.

Volkswagen to Use IOTA Technology For Software Updates

This project is designed to solve the key problem of secure transmission of software updates "on the air" (OTA) to the network of autonomous vehicles
12 June 2018   324

This week, the German automaker Volkswagen announced cooperation with the IOTA, which develops solutions in the field of the Internet of things. At the CEBIT 2018, the companies are planning to show a new experimental sample of their joint project based on the IOTA DAG network.

IOTA Twitter
IOTA Twitter

This project is designed to solve the key problem of secure transmission of transparent, undamaged software updates "on the air" (OTA) to the network of autonomous vehicles. At the moment the data is distributed centrally, so there is no guarantee that the information delivered to each car is genuine and unchanged. This problem can be solved using a distributed ledger or other similar technology.

In addition, because the scope of autonomous vehicles continues to grow, the system must not only decentralize to monitor each update, but also be able to scale to the right size to cope with the increasing load on the network. Another major factor is security. This factor will become more important when cars become more dependent on software for performing basic tasks and functions related to security.

Johann Jungwirth, Volkswagen's senior director of digital engineering and member of the IOTA Foundation's Supervisory Board, believes that the technology of a decentralized distributed registry will form the basis of a safe ecosystem that does not require participants to trust each other - just the one Volkswagen needs to further develop its the project of autonomous cars. He calls IOTA "an excellent example of how distributed ledger technology can be used in the future."