IOTA and Volkswagen Join Forces to Launch Blockchain-Enabled Cars

0
LinkedIn
Facebook
Newsletter
RSS

IOTA has partnered with car giant Volkswagen so that it can bring its blockchain-enabled IoT infrastructure to smart vehicle performance tracking.  The application, called Digital CarPass is expected to be released early next year.

Through this partnership, IOTA will see its blockchain technology integrated with Volkswagen’s connected cars to ensure that the vehicles get all the data they need to function correctly.  It uses distributed ledger technology (DLT) to collect and evaluate data about the car performance such as mileage in order to improve efficiency.

Working product

While the proof of concept of the CarPass project debuted early this year at CEBIT 2018, this news marks the first major development in the partnership between IOTA and Volkswagen.  Volkswagen’s Head of Blockchain Benjamin Sinram, in an event in Tel Aviv, Israel, discussed the five blockchain projects that the carmaker was currently pursuing, of which the initiative with IOTA was the farthest along in their development roadmap.

The CarPass application could prove critical for the auto industry as many automakers are showing renewed interest in autonomous cars. The transmission of data and software to vehicles on the IOTA blockchain will be crucial to ensuring that driver-less cars remain safe in the real-world environment.

Speaking at the event, Sinram stated that his team is currently developing an open ledger to track the supply chain of cars from manufacturer to customer as well as a “charging protocol” for electric vehicles that run on the Ethereum network.   Using DLT for its manufacturing makes it easier for the company to automatically record data, allowing it to detect defects and other similar information as well as track shipments and inventory.  This would allow it to handle product recalls and make its manufacturing supply chain tamper-proof and more efficient.

Sinram also presented a pilot project designed to document the software code that is embedded in particular vehicles. Potentially, this kind of technology would allow the car manufacturer to prove the current software version of a vehicle in an accident, ensuring public proof of data integrity.

IOTA Tangle Technology Possibilities

IOTA remains one of the most exciting blockchain projects revolutionizing the way of doing business in the semi-virtual economy market. Its Tangle technology is the first open-source distributed ledger specifically built to support IoT, with zero transaction fees and data integrity and security for connected devices and machines. The IOTA team hopes that as the world is moving to a more robust IoT, the importance of its technology will encourage users and major organizations to join its network.

The success of IOTA is deeply tied to its adoption by the IoT industry which is why the blockchain startup has been pushing for collaborations with a wide range of companies including Microsoft, Fujitsu, Bosch, Accenture, and educational institutions like the University of Oslo and Norwegian Institute of Science and Technology.

Ray Battrick is a certified blockchain expert and FinTech copywriter who is devoted to working for you to build blockchain-based applications for your business. Ray is also a FinTech copywriter who is skilled at creating persuasive content for a wide range of products, including financial technology, business blockchain, investing and more. As an avid blockchain enthusiast, Ray enjoys writing about business blockchain, ICOs and cryptocurrency investment.

Post a Comment

avatar
  Subscribe  
Notify of