Johann Jungwirth has previously held top positions in Apple and in the Volkswagen system, and has since 1999 held the position as CDO, or Technology Director of the Volkswagen Group, Europe’s largest automaker. “I’m looking forward to contributing to the iota board,” said Jungwirth on Twitter night to Monday.
In a press release he writes the following. – The crypt currency cements as one of the leading crypto currencies today, and with their technology it is no wonder that large companies want to cooperate.
Iota founder David Sønstebø says to E24 that you do not include Jungwirth only for the status it brings. “We are interested in aboard people who share our vision and who will actively participate in the foundation that develops in Iota,” says Sønstebø.
He adds that the agreement is not only a symbolic character, but that Jungwirth will set off hours every week for the position and will be paid in the iota-cryptovaluta. “As technology director in one of the world’s largest companies, he has deep experience in digitizing giant organizations and the opportunity to experiment with virtually everything in digital vehicles, which Iota will now access. It is especially this experience that fits well with the ITOA Foundation in the growth stage we are in. At the same time, access to his network in the Volkswagen Group is also important, says Sønstebø.
He further states that they have been in contact with Jungwirth for a six-month period.
On Monday evening, iota is the world’s 11th largest crypto currency and has a market value of $ 6.7 billion.
Sønstebø says that Jungwirth wants to sit on the board for the next five years and says he will play an important role in the partnership iota and Volkswagen has around self-driving and self-paying cars.
Volkswagen is not the first German company to be interested in iota, Bosch has also contributed to top management to the board and invested in the crypto currency itself.
Also, one of Iota’s other founders is German, Dominik Schiener, and the Iota Foundation, which develops technology, also has headquarters in Berlin.
Iota, for example, develops solutions where payments via machines can take place quickly and safely, and this is where you work with Volkswagen through the Carpass project .
To the German newspaper Der Spiegel , Jungwirth said at the technology conference CES in Las Vegas earlier in January that he thought Iota’s technology was exciting given their own technology development with self-propelled cars. “If self-propelled cars also make payments on their own, it means billions of transactions every day, and for this you need secure technology. And I have to say I think Iota’s technology is very exciting in this field, “he told the newspaper.
The Volkswagen Group owns not only Volkswagen but also 11 other vehicle companies, including Porsche, Audi, Bentley, Buggatti and Lamborghini. In 2016, the Group had a total income of 217.2 billion euros. Volkswagen is also part of Iota’s pilot project for a data marketplace, as E24 has previously written about.