There is no denying that it has been an eventful couple of months for IOTA. In 2017, they launched an IoT-based data marketplace, along with gaining a significant investment by Robert Bosch Venture Capital. Earlier this month, the IOTA Foundation announced a collaboration with the International Transportation Innovation Centre. Just this week as well, they have announced the addition of Volkswagen CDO Johann Jungwirth onto the IOTA Foundation’s Supervisory board. He said;
“IOTA has the potential to set a standard for trusted machine-to-machine transactions…with it brilliant technology, it’s no question why mobility and technology companies as well as other key players in the industry are joining the Foundation.”
With the latest addition to the board, it means that IOTA really is heading straight into the future and can be so much more than just a virtual currency.
David Sonstebo spoke highly of the addition of Johann to the board, and feels that it can bring the entity into what they want it to become. He feels that they can reach places they perhaps haven’t before, saying;
“It means that we are beginning a very strategic partnership in the automotive industry. He has great experience and great expertise in this field, so having him on board means that IOTA is establishing itself very heavily in the mobility sector for different use cases that I’m sure we’ll get into.”
He has been very clear that he wants IOTA to be unique and so much more than a cryptocurrency. They started up in Germany, which feels gave them good standing, because of the laws and legal fees, but he is quick to add that he does not want to be seen as just another virtual currency, despite using cryptographic technology. He said;
“We don’t want to remain in the crypto realm – we want to mature out of that and actually create something for the real world…We need people…who have experience running these large organisations.”
They feel that now they have access to the automotive world, it could mean really big things for IOTA. Looking into the future that you could use the IOTA blockchain technology to pay for parking, and any charging that you face in your car, immediately bringing into everyday life.
It is not just the car industry that IOTA is focused on though. They are actively involved in the health care sector, and world leading experts on the board already. They are breaking into areas that have not been touched before by blockchain technology, showing just how far IOTA is planning on going.
Although these are the two main areas that they are delving into, 2018 should be an incredibly exciting year for IOTA, and they are focusing on three main aims. The first is to grow the IOTA foundation into the entity and realise its full potential, the second is to grow the team itself, which has already grown so much in recent months and the final one is to realise these use cases. There is a lot for them to do, but it really does show that the possibilities are endless.
Experts have predicted that IOTA will be in the top three cryptocurrencies in the next year, something they are very pleased with. They have said;
“Indeed, if we succeed with all of the things that I’ve listed in terms of maturing the ecosystem, the technology, and the foundation itself, then I am also very confident that IOTA will be right up there, where we genuinely feel it belongs from just a merit point of view.”
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