Germany auto dealer, Volkswagen has entered into a partnership with IOTA to produce cars connected to the blockchain in 2019.
The Future Of Automobile Is Here
The auto world is gradually shaping up; the major players are trying as much as they could to inject the latest technology in their brand, to satisfy the curiosity of the customer and also provide a unique selling point, giving the customer a reason to purchase their products, in a highly competitive market.
The German car manufacturer, having noticed the versatility of the blockchain technology, entered into a partnership with IOTA, to offer the technical know-how into their latest products.
IOTA recently announced that it would be releasing a digital Carpass, which will be of immense assistance in making sure that data collection is both safe and secured. IOTA who are well famed for their driverless technology teamed up with Volkswagen; the partnership is so closely knit that the Chief Digital Officer (DCO) of the company Johann Jungwirth is currently sitting on the IOTA foundation supervisory board.
A Great Partnership
The partnership is seen in so many quarters as a step in the right direction, signaling a collaboration that can take the auto industry into the next level, especially at this critical period, where there is a very fierce battle amongst automobile manufacturers.
The man in charge of transforming the fortune of the firm through the effective use of relevant technology, Johann Jungwirth revealed through his verified twitter handle, the Volkswagen IOTA partnership, and the proof-of-concept.
The tweet read,
“Volkswagen, together with @iotatoken will show at #cebit18 a proof-of-concept how the trusted transfer of software over-the-air to vehicles can be securely documented using the #tangle. A great example of how distributed ledger technology can be used in the future.”
Different projects are laid bare in the partnership, and each one will benefit both parties. Currently, the Volkswagen group consists of 12 motoring brands which include Bugatti, Audi, Bentley, Lamborghini among many others.
The new partnership is just a great indicator that the blockchain technology can be used in most things, having tested the waters in the financial sectors, Agricultural, Pharmaceutical, Health, Information technology among many others, too numerous to mention.
The success of the partnership can help drag the German auto manufacturer to the top of the chain, competing favorably with auto giants like Toyota, Mercedes, and the likes, who are currently dominating the automobile business.