IOTA and its revolutionizing system, Tangle, will be working in order to change the way in which the automotive sector works. From electric cars, to self-driving machines, IOTA will be powering this evolution in the sector.
Volkswagen and IOTA presented a Proof of Concept during the Cebit summit that was held on June the 11th. The intention was to show how over-the-air updates could securely be documented using the latest technologies developed by IOTA.
The information has been uploaded by Johann Jungwirth, Chief Digital Officer of Volkswagen Group, on Twitter. He says that by 2020, there will be 250 million vehicles connected. But if that is going to happen, there will be important software updates, almost at all times.
Volkswagen recalls IOTA’s aim to be the the company behind the automotive industry leveraging the capabilities that have the real potential to disrupt the industry.
According to the document uploaded, there are different difficulties related to enforce security on data that is kept in centralized storage as a major challenge. The partnership with IOTA aims to use the Tangle as a safe storage medium for over-the-air update documentation.
Mr. Jungwirth commented about that:
“Distributed Ledger Technologies (DLT) are crucial for the future of trusted transactions. IOTA has great potential to become a DLT leader with the Tangle approach.”
IOTA has different advantages that would help the automotive sector to improve and be more secure implementing the latest technologies. Back in February 2018, at the Bosch Connected World Conference, Jungwirth already praised IOTA for the different potential use cases that could be implemented in the industry.
With the Tangle developed by IOTA, it is possible to grant irrevocable proof of data integrity and software versions and transactions. Additionally, the technology can be a perfect layer to apply digital twin technology that combines AI, Machine Learning, and data analytics and create a replica for physical assets.
IOTA is now one of the most important cryptocurrencies in the market. It is the 9th virtual currency by market capitalization registering $3.32 billion dollars.