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IOTA is an open source cryptocurrency that has been designed for the connected object industry (IOT) …

Cryptocurrency: Do you know IOTA?
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( – The IOTA Foundation, a German non-profit foundation, announces that Robert Bosch Venture Capital GmbH (RBVC), the venture capital firm of the Bosch Group, has acquired a significant amount of IOTA chips.

Dr. Hongquan Jiang from RBVC will also join the IOTA Foundation Advisory Board. This follows the successful launch of the IOTA Data Marketplace, which involves more than 30 companies and institutions from around the world.

RBVC is strategically positioned by purchasing IOTA chips, one of the largest cryptocurrency in the world … RBVC thus accelerates its collaboration with IOTA and its contribution to the development of IOTA technology by bringing it closer to the global ecosystem of Bosch and its key partners.

Expanded potential

RBVC’s investment expands the potential for new business models involving the Internet of Things and uniquely positions IOTA and Bosch to address the challenges of IoT together.

IOTA, the first post-blockchain distributed registry technology, enables machines and connected objects to transfer secure data and cryptocurrency. This technology is a fundamental advance towards innovative applications involving the Internet of Things and business models associated with mobility, energy, industry 4.0, etc.

The IOTA technology has already enabled transactions of more than $ 10 billion and has been used in application cases such as traceability in “supply chains”, secure updates “Over-the-Air” and micropayments no transaction fees for charging electric vehicles, parking and more …

New standard

“We have been working with the IOTA team for over a year. I am captivated by IOTA’s Tangle technology that has the potential to become a new standard for secure machine-to-device communication and payments between connected objects, “said Dr. Hongquan Jiang. “There will be a lot of synergy between Bosch and the IOTA Foundation and I look forward to the adoption of this technology by the industry in the near future.”

“The technology of distributed registers will play an important role in the industry of tomorrow,” said Dr. Ingo Ramesohl, General Manager of RBVC. Bosch is one of the pioneers in the adoption of distributed registry technology in the automotive and IoT industries. Investment in IOTA cryptocurrency, RBVC’s first investment in a cryptocurrency, will help us work closely with the IOTA Foundation to explore the industrialization of this innovative technology. 

Vote of confidence

“The acquisition of IOTA chips by RBVC is a vote of confidence in the technology and ecosystem we have built over the years,” said Dominik Schiener, co-founder of IOTA.“The technology of distributed registries is important for the future because it is about liberating the Internet of Things, and with IOTA we have the potential to become the backbone of this new machine-to-machine economy. . We will continue to intensify our collaboration with the most influential Internet companies and hope to see them put on the market first solutions by the end of 2018. “

“Bosch and IOTA have been in touch since 2015 and are cooperating on several fronts, including the Trusted IoT Alliance (TIOTA) and other projects,” said David Sønstebø, co-founder of IOTA. “RBVC’s decision to acquire a significant amount of IOTA chips will consolidate the idea of” Machine Economy “and confirm that leaders in this field share our vision.”