IOTA (MIOTA) and Volkswagen to show proof-of-concept at CeBIT 2018
IOTA (MIOTA) and Volkswagen will be presenting the proof-of-concept of distributing trusted vehicle software over-the-air. This will be done by using IOTA’s Tangle. The Chief Digital Officer of Volkswagen, Johann Jungwirth tweeted the news saying that it’ll be demonstrated at CeBIT 2018. This is not the only partnership that IOTA has made in the past week. The cryptocurrency company recently partnered with Nordic Semiconductors and NTNU University.
CeBIT is an annual computer expo held in the Hanover Grounds. This giant expo which is internationally well-represented is the best place for such a demonstration. Jungwirth had announced a partnership between the vehicle manufacturing giant and IOTA Blockchain project that focuses on IoT.
He’d promised the cryptocurrency community a proof of concept which shows the future of distributed ledger technology in the automobile industry. Jungwirth’s tweet also says that according to expert predictions over 250 million connected vehicles will be on the roads. All these automated cars will need up-to-date software which are frequently updated according to the level of automation.
The digital currency company’s goal is to be the core protocol which ensures secure updates for vehicle manufacturers and suppliers. To ensure that the data is tamper proof, it shouldn’t be centrally owned. Instead multiple, transparent platforms which stores the necessary data ensures that the documentation process is easier. Moreover, it also ensures that there is mutual trust in between the parties.
IOTA and Volkswagen’s upcoming demonstration will occur on Tuesday, June 12 at the CeBIT 2018 conference in Hanover. The presentation also includes a panel discussion called “Blockchain in Future Mobility.” The IOTA/Volkswagen project’s core goal is to establish a process to facilitate updates for vehicle software which is secure and over-the-air. And it will be done using an immutable storage medium.
The ecosystem can also be used to provide customized services like usage-based insurance, in a secure and immutable way. Volkswagen’s a giant in the automobile industry and by adopting Blockchain technology, they’re ensuring that they’re ahead of the curve. Moreover, it’ll give a boost to both IOTA and Blockchain technology, in general.
Talking about Distributed Ledger Technologies (DLT), Johann Jungwirth said,
“Distributed Ledger Technologies (DLT) is crucial for the future of trusted transactions.”
In reply to the announcement on Twitter, Mateusz Kowalczyk tweeted saying,
“That’s great news but we are on the beginning of this road. To bring that technology to real use by the people we have to wait few years. Good news is we are in this project from begging and I don’t even imagine how much it will be worth when people will use it every day.”
Another person, Chris Mueller asks,
“wow, great! What about charging solutions in combination with a wallet for the car – is something like this possible already?”
Image via shutterstock
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