There is hardly a charitable foundation in Germany that generates a fortune of ten billion dollars. However, the Berlin-based Iota Foundation, which has only been recognized since November 2017, maintains control of the Iota touches it has created, whose current market value at this level places them in the ten largest cryptograms listed by Bitcoin.
The 21-year-old co-founder, Dominik Schiener, can enjoy this size – says in a Reddit forum, but: “Our strategy is to replace all this buzz in the market as quickly as possible.” That the founder of another cryptocurrency, Ripple, is suddenly one of the richest people in the world, “is to me one of the most ridiculous things of all time.”
Undoubtedly, Iota is surfing the wave of interest in cryptography boosted by the Bitcoin boom and greed for the rapid wealth of air. But Iota is in many ways an alternative – and this makes the Berlin start-up interesting for companies that want to get real economic benefits from the new technology.
Bosch has invested in “a significant amount of iota tokens” just before Christmas through its RBVC venture capital fund. There will be “great synergies between Bosch and the Iota Foundation,” said RBVC partner Hongquan Jiang, who joined the Iota Foundation Advisory Board. With the help of Iota, Bosch wants to further develop the Internet of Things – machines that communicate directly with one another and also pay directly for their services.
There is hardly a foundation in ZDF’s morning magazine, the head of development of Volkswagen, Johann Jungwirth Iota, gave his view on robotic cars: “If these vehicles act independently as businessmen and also negotiate the best price, pay the garage independently, pay for the store, which will be billions of transactions a day and for that. You need secure technology, and there is, I must say, I find this technique very exciting. ”
In the “Carpass” project, which deals with the digital tracking of cars, Iota works with the Volkswagen stock market chart display and the company’s Innogy stock market table showing together.