Acyclic Directed Graph project IOTA, one of the largest cryptocurrencies by market cap, has completed a month-long project with German automobile giant Audi’s think-tank, Audi Denkwerkstatt, and revealed their conclusions from the effort at an event in Ingolstadt and Berlin.
The IOTA Foundation revealed to an exclusive crowd that the results were “positive.”
Audi Denkwerkstatt, by conducting research into the technology with the help of IOTA, can take their learning to assist in designing new business models.
Malte Schönefeld, from Audi, said of the experience:
We really had a great time working with the folks from the IOTA Foundation. Exploring new topics is always exciting and it requires excellent team work and dedication to really get something done within six months.
IOTA officials agreed:
Audi Denkwerkstatt has a nice track record of projects and IOTA is proud to have been able to experience the work style and team spirit…it is another proof that innovation requires collaboration and a hands-on mentality.
The project was an attempt by both entities to ascertain what practical solutions the two could make in the automobile and IoT industry. An important focus of the effort was to determine the Tangle’s use cases in the industry.
At the start of this project, the two entities said:
generating, validating, and implementing ideas about premium mobility within six months. The aim is to establish business models independently or in cooperation with others.
In a blog post IOTA said that the think tank took the first few weeks to conduct research on the technology and discuss with experts about creating a prototype for public feedback, and consequently obtain an idea for a working product.
It is well known that the Internet of Things is IOTA’s target industry, and automobiles will occupy a huge share of that market.
To this end, IOTA has been collaborating with several automobile giants and has also joined the Mobility Open Blockchain Initiative (MOBI), a consortium of major automobile manufacturers and related entities who are working together to build practical solutions for the IoT-present automobile era.
IOTA is Adding to Its List of Collaborators
IOTA has also announced that it will be working with NEXT biometrics, a Norwegian company that is a leader in fingerprint-sensing technology. The two will be working together to create IoT solutions for the biometrics industry.
The team has previously worked to marry its open-source protocol with biometric data, having launched the “IAMPASS” program to verify palm vein patterns.
IOTA’s decision to connect with established companies to solve real-world problems is a logical way to go about creating the fundamental environment for a blockchain-supported IoT network.
We are likely to see more interesting developments in 2019, including the launch of a “Digital CarPass” in conjunction with Volkswagen in Q1 2019.