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Bosch Doubles Down on IOTA Data Marketplace

Bosch Doubles Down on IOTA Data Marketplace

One of the original participants of IOTA’s decentralized data marketplace, engineering and electronics monolith Bosch, has just upped the tempo with the 12th-largest cryptocurrency by market capitalization, explaining how its newfangled Internet of Things (IoT) device will play a vital role in the economy of the so-called “ambitious cryptocurrency.”

According to a post Monday by the IOT-focused arm of the German multinational, Bosch Connectivity, their Cross Domain Development Kit (XDK)—a “universal programmable sensor device” leveraging an armada of sensors to measure various ambient data including humidity, noise and light levels, and acceleration—will be now for the first time be able to simultaneously collect, upload, and sell data on IOTA’s decentralized data marketplace in fully open-source code.

Bosch Bullish on Data, Sees IOTA as Part of the Picture

Since being unveiled as a pilot program in November 2017, the Data Marketplace has been catapulted to become one of the MIOTA token’s prospective powerhouse usage cases—facilitating the purchase and on-selling of IoT data—a commodity the IOTA foundation maintains within years will become the “fuel of the future” collected by more than 75 billion devices.

Bosch, which reported $87 billion in revenues last year and has for decades nestled comfortably in the Fortune 500, seems to be equally bullish on the prospect of having a finger in the pie that is the fledgling, but burgeoning data economy.

Anticipating 20 billion connected devices by 2020, Bosch explained that it felt an affinity for IOTA’s vision of an “open and decentralized data lake that is accessible to any compensating party,” and closely mirrored the comments of the team behind the Berlin-based DAG, explaining:

Currently, data is mostly limited to the control of a few entities and not available for the broad masses. Therefore, not everyone can develop new use cases or business areas. Especially at this time when data is becoming increasingly important, IOTA presents a counterpart to the status quo with their Data Marketplace.

The German engineering heavyweight went on to shed light on how its flagship XDK IoT node could double down on this shared vision—citing a number of potential use cases including data-monitored audit trails, and monitoring a machine’s operational status—visible to all stakeholders on IOTA’s Tangle.

Cover Photo by Alex Eckermann on Unsplash

Filed Under: Adoption, IOTA, Technology
Jonnie Emsley

Jonnie Emsley is a freelance writer and blockchain enthusiast based in Ho Chi Minh City, Vietnam. Discovering new corners of Southeast Asia and emerging cryptocurrencies give him a buzz like none other.

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