Three big industry giants, Bosch, Fujitsu and Volkswagen have joined forces with IOTA to utilise its Tangle Technology in order to automate their services and products.
Blockchain projects which offer to real-life situations provide a unique service and have succeeded in the past to get visibility within the global industrial community. IOTA is one of those projects with the plan to revolutionise the Internet of Things industry through its blockchain technology.
The project by IOTA has been given an increase with the three industry giants, Bosch, Fujitsu and Volkswagen. The IOTA blockchain solutions cater to multiple distinct industrial applications. The year of 2018 has proved to be a great one for the IOTA family in the terms development and growth.
At the end of last year, Bosch announced their new sensor Cross Domain Development Kit. These sensors would automatically and instantly update products by Bosch. While discussing their vision for the Internet of Things, Bosch said:
“The magic quality of the Internet of Things is the connected world it makes possible: a world that’s getting bigger as the technologies linking devices become smaller, cheaper and faster.”
The Tokyo based multinational giant Fujitsu, is working on an IOTA based project to transform the manufacturing and automotive marketplace. The company believes that this Tangle Technology could bring IT services and manufacturing to a whole new level.
A member of the board on the IOTA foundation, Dr. Rolf Werner said:
“The possibilities of decentralised and secured applications based on IOTA Tangle as a Distributed Ledger Technology are immense. They go far beyond machine to machine payment and include, for example, tamper-proof monitoring of the supply chain and secure identity management, just to name a few.”
At the 2018 event CEBIT, Volkswagen and IOTA both presented a new Proof of Concept (PoC). This new PoC technology holds an idea in which Volkswagen would automatically update its products and its car system.
Driverless cars are making a bigger and bigger impact in the market and so Volkswagen aims to use the Tangle Technology for easy transmission of data over radio signals.