IOTA and Audi Denkwerkstatt — the German car manufacturer’s think tank — have teamed up to explore the Tangle for building a permissionless mobility ecosystem, together embarking on a one-week Google Design Sprint in Berlin.
— IOTA News (@iotatokennews) July 25, 2018
Starting July 25, 2018, the collaboration will include the production of a low-level prototype, gathering customer feedback, and exploring usage cases for IOTA’s Directed Acrylic Graph (DAG) ledger technology.
This is not the first time IOTA has piqued the interest of the automobile industry, with Volkswagen announcing in June 2018 it will tap into the Tangle to distribute trusted vehicle software over-the-air.
While this is IOTA’s first outing with luxury car giant Audi, the IOTA team hint at hopes of having a productive relationship — stating on their blog:
This new way of working is exemplary for how car manufacturers approach innovation and is a great opportunity for IOTA to be maybe integrated into a new mobility solution with expertise from Audi.
Audi Denkwerkstatt (translated “the Audi ideas workshop”) focuses on developing a variety of products and business models in tandem with members from the digital ecosystem. While mobility is a central concern of Audi’s research outfit, a number of IOTA’s strong-suits would appear to be of interest to the 15-member think tank, who seek “innovations in the areas of HR, IT, data security, sales, finance or similar.”
IOTA: Making Waves
According to IOTA, their technology couldn’t be a better fit for the job. In an announcement on the IOTA blog, the team described their open source protocol as being “predestined” to revolutionize “any kind of business ideas that rely on trust in data, scalable & safe machine to machine communication & transaction settlement.”
IOTA — the 9th largest cryptocurrency by market capitalization — would appear to be continuing its impressive momentum in 2018, with a number of equally heavy-hitting corporations and political bodies announced their commitment to utilizing the Tangle, most recently the United Nations and the Norwegian Bank. As IOTA sees the addition of smart contracts with its long-awaited Qubic upgrade, the Germany-based project may prove unprecedented utility for DAG technology.
Cover Photo by Björn Grochla on Unsplash
Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.