Published
5 years ago on
September 28, 2018
“Founder of the bIOTAsphere Terry Shane teased both the presents and the people who watched the livestream with a Proof of Concept of a technology that promises to revolutionize the society, serving as the foundations for new applications that will be developed on top of it. Titled ‘Putting the Proof back in to Proof of Concept’, Terry unveiled their new experiment involving the Tangle and real-time data transfers to improve the way car insurances are charged to clients, as well as to have a near-exact information of how events were developed in the case of an accident.â€This materialised through a live demonstration which used a Tesla car, driven by IOTA’s technology. By using a basic internet connection and the IOTA blockchain, Shane was able to move the car around  autonomously, whilst at the same time recieving a live feed of data about the cars performance. Interestingly though, the car was also able to modify its own insurance based on its state and the special conditions through which it found itself. According to TokenTops:
“Part of the PoC involved the car choosing automatically from three different insurance providers, each one with different fees and special conditions that offered discounts or charged premiums depending on their conditions, and the election was based on the best of them for each situation.  For example, if Tessie was completely stopped, the platform would switch to the Standby Insurance, which offers the best rates when the car is parked. When in movement, it would switch from this provider to one of the other two – Tortoise Insurance and BFRocket Insurance – depending on how fast was driving.â€This is a very exciting and novel approach to demonstrating IOTA’s incredible and growing technology, whilst at the same time informing the audience that not only is this a techological revolution, it’s a cost saving exercise too - something that people tend to get quite excited about. References TokenTops
