The IOTA Foundation signed a new Memorandum of Understanding (MoU) with High Mobility. The main intention is to leverage IOTA’s services into the developer platform created by High Mobility. The information was released by Alisa Maas, Head of Mobility and Automotive at the IOTA Foundation a few days ago.
IOTA Signs a New MoU With High Mobility
High Mobility is a company that focuses on digital developer tools for connected cars. IOTA, instead, aims at innovating and transforming the Internet of Things industry.
In the press release, the company explains that High Mobility will be bridging the gap between car manufacturers and app developers. By integrating IOTA, it would be possible to improve the applications integrated into the automotive industry. IOTA will be providing content, blueprints and other tutorials to the developer platform.
With this MoU, High mobility will allow big companies to engage with independent developers from all over the world. It will be possible to standardize car APIs for seamless prototyping.
Alisa Maas said that the industry starts recognizing the potential that blockchain technology has. About it, she mentioned:
“As the industry begins to recognize the huge potential of distributed ledger technology it is essential to establish collaborations that enable permanent innovation and the growth of a multi-player ecosystem.”
The first project is expected to be executed in just a few weeks, according to Maas. Startups such as High Mobility can accelerate IOTA’s technology. This will make High mobility a key player on the IOTA’s network.
Additionally, Kevin Valdek, the chief technical officer at High Mobility, explained that there is an increased interest from developers to use blockchain technology. Moreover, he mentioned that they want to combine vehicle data with distributed ledger technology (DLT). Furthermore, he mentioned that they want to put vehicle data on a blockchain. Additionally, it can be also possible to include payments.
“The type of applications that can be enabled with IOTA’s cutting edge technology and vehicle data are many,” said Valdek. “In the first blueprint, we see not only how vehicle data can be put onto a ledger, but also how it can be combined with charging infrastructure and payments. I’m confident that this will get ideas flowing in our community.”
This is not the first time that IOTA works with the automotive industry. As we wrote at UseTheBitcoin back in June, IOTA and Volkswagen released an over-the-air proof of concept.
IOTA is currently the 12th largest virtual currency in the market. Each MIOTA can be bought for $0.475 and it has a market capitalization of $1.32 billion dollars. This MoU shows that the network can be used to enhanced several industries, especially the automotive sector.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.
