As more coins are joining the clamor for more digital assets, there are just a few that have real-life footholds. The internet just recently moved to the third-generation and the blockchain, an innovation that recently clocked a decade is set to move into Blockchain 4.0; creating the impression that is better and futuristic than the former.
IOTA (MIOTA) is far from the corridors of being just a cryptographic currencies and had since extended its frontiers to recent talks of IoT. The web has been inundated with proposed Internet of Things (IoT) and the coin seems ready to clinch the spot.
In its bid to promote IoT, IOTA (MIOTA) had moved into one of the vibrant countries the world, Germany and forged synergy with its automobile industry. There will be concerted efforts to provide IoT services to automobile manufacturers in the region; a mission that had already been put into force.
Volkswagen is Buoying IOTA’s (MIOTA) IoT Drive
IOTA’s (MIOTA) move into Germany was pre-meditated move to capture the supposed region for IoT. Germany is reputed to top the list of decentralized web and housing top automobile brands, hence, the country has openings for Internet of Things.
Volkswagen, one of the most successful automobile manufacturers in the country had been the first to recognize IOTA (MIOTA). It had in February 2018 hinted on its partnership with the blockchain firm. Much wasn’t heard after this until the final months of Q2 when the first product of their merger was released.
IOTA (MIOTA) seems a sleeping giant in the crypto sphere with its positioning to take over a fair share of the proposed $5 trillion USD automobile industry by 2020. The coin is going to be in the green in coming years if it succeeds in capturing more automobile companies in Germany; giving it 50% control of the IoT market. Volkswagen is positioned to give much needed support that will see IOTA (MIOTA) sitting atop choice spot on market cap and giving the company better positioning in the IoT industry.
Proof of Concept – IOTA’s (MIOTA) Deal with Volkswagen
There were obviously cryptographic currencies such as BitGold before Bitcoin was introduced. Their major downside was running on a centralized environment; a system Bitcoin changed with the blockchain. However, the blockchain wasn’t found viable as needed and there came alternate Directed Acyclic Graph that does not require mining. It is to this latter category that IOTA belonged. IOTA uses a different distributed ledger called Tangle and just like a spider web, many platforms are actively connected in real-time. This was what Volkswagen found and opted to throw in its hat to the ring of IOTA’s IoT services.
The 2018 version of Cebit Expo that held on the 11th day of June created opportunity for Volkswagen to make known the functionality of its proposed Proof of Concept (PoC) that will run on IOTA’s Tangle DLT. The drive for IoT is reaching crescendo as more devices including cars are becoming part of the program. It is to this end that PoC will allow Volkswagen distribute data to its self-driven cars without hassles.
Digital CarPass, the product that will see to the running of Volkswagen’s PoC will use the Tangle distributed ledger in distribution of software update and provision of services to car owners. For instance, a car owner can easily check the mileage of his car through this product. The idea was to have new features delegated to Volkswagen-owned cars as software through the air without necessarily gathering cars to integrate this individually. This is great considering anticipated self-driven cars by 2020. These features will be functional under the Connected Car feature that allows over-the-air software update in addition to checking a car’s mileage.
IOTA (MIOTA) Will Feature In MaaS
IOTA (MIOTA) is fully keen on having the upper hand in global IoT services and its capture of Volkswagen is a pointer. The latter has brands that are globally accepted and is also keen on extending its IoT services. Apart from the existing PoC system, the car maker is also looking at Mobility-as-a-Service (MaaS); a system that will also have IOTA (MIOTA) well-represented.
MaaS is another angle to IOTA’s (MIOTA) DAG-powered Tangle DLT. It will feature in payments in self-driven car economy with booking and holidays planned and enforced through its DLT, Tangle. This had been followed up with the cryptographic project partnerships with manufacturers such as Renault and BMW transportation industry-oriented Mobility Open Blockchain Initiative (MOBI).
IOTA – Fuel for IoT
The coin has impressive beginning haven distanced itself from traditional blockchain structure to milder DAG. Aside fueling drive for Internet of Things, IOTA (MIOTA) is helping the German automobile industry especially Volkswagen to have chances in adopting and using IoT in their little shells.