Audi’s Joint Venture With IOTA Promises A Blockchain-Powered Automotive Future

Audi Denkwerkstatt, Audi Company’s thinktank has been collaborating with IOTA Foundation. In the past for months, the two parties were testing a prototype platform that is designed to use IOTA Blockchain technology in powering a number of automobile automation features such as the Internet of Things, Big Data management, etc.

In a report card release to the Audi stakeholders’ community on mid December 2018, a team of engineers told the stake holders that the trial showcased a possible future adoption of IOTA in Audi smart car development. The announcement was done in two German cities of Ingolstadt in Bavaria and the capital city, Berlin.

Details About The Partnership

The collaboration between Audi and IOTA took part in chronological phases. The first step occurred in the initial stage where AUDI was working on a better comprehension of the challenges that the car industry faces. This step was tasked with constructing the background to the problem by first understanding the real issues that futuristic Audi car models would need to exemplifies in order to be considered as top of the range.

Secondly, the next phase focused on collating the ideas from phase one and creating a prototype IOTA Blockchain platform that provides a solution to all the shortcomings. The main areas that the features of the trials delved on included technological help, business models, and use case processes.

A Blockchain Technology Solution In Car Automation Is A Closer Reality

Malte Schönefeld on behalf of Audi, during the meeting, lauded the cooperation with IOTA Foundation as a step in the right direction in Audi car automation. Specifically, Malte appreciated the fact that the new topics explored and tested by the prototype platform would lay ground for creation of a far-reaching network in six months.

On IOTA’s representation, Janine Härtel and Jan Pauseback, assured the community that IOTA is a leader in innovation. Further, the representatives exuded confidence that the collaboration will facilitate a hands-on approach in Audi Blockchain technology development.

Technical Aspect Of The Joint Venture

IOTA initials stand for Internet of Things Application. The technology actualizes transactions between the Internet of Things and devices such as the Audi car in this case. However, the Blockchain aspect in this case is a little bit outlying as there is no central ledger or miners to power the network. Therefore, the Blockchain network utilizes Directed Acyclic Graph (DAG) technology to verify all transactions from different devices by building a record of entries that determine next best course of action. IOTA dubs DAG as Tangle, which is basically interconnected data functionalities.

Like in the conventional Blockchain technologies, Tangle ‘blocks’ expands as more data is gathered. Since the network is fast, free, and secure, IOTA is very popular and deemed as the best technology for auto automation.

Audi Automatic Car Will Be Powered By IOTA

Audi recently invested 14 billion Euros to fund its self-driving cars e-mobility project. Therefore, IOTA technology will greatly enable the car maker to realize its long-term roadmap.

Meanwhile, IOTA’s native Token, MIOTA, is ranked at the 12th position in the Crypto markets rank at a market cap of $743,294,729 at a price of $0.267417.