Blockchain adoption is gaining momentum.
By 2019, IOTA and Volkswagen will release blockchain enabled cars. In a recent announcement, IOTA will release the Digital CarPass, which will track auto performance data. This will make sure that all data collection in reliable and secure in the chain.
The IOTA-enabled CarPass is just one of five blockchain initiatives currently under active development by Volkswagen. Porsche is also developing a blockchain-based solution that will allow multiple people to share vehicle access. Other projects include a supply-chain ledger that can track vehicle parts from manufacturer to customer.
Digital Car Pass is a practicable application of IOTA for vehicles telematics data.
It gives the vehicle the advantage to tell its story. Where it went, what it did and how it was treated. It provides tamper-proof mileage history, and also guards against odometer fraud in second hand vehicles, according to Ethereum World News.
Partnership could Boost IOTA Value
The Volkswagen partnership has resulted in higher valuations for IOTA.
We believe that once the cars are rolled out, investors may finally see the potential of the technology. As a result, it could also lead to higher IOTA adoption and use. Most exciting, Volkswagen isn’t the only auto company looking into it either.
BMW and Renault have also begun to venture into Blockchain
In fact, four of the biggest automakers are part of a group working to bring blockchain to your car. BMW, Ford and General Motors are among the companies that are part of the Mobility Open Blockchain Initiative.
Their mission is to speed the adoption of blockchain.
Even Amazon, Apple, Google and Microsoft are making moves into connected cars, which would rely on the technology.
“This is a tectonic shift in the tech landscape, that has the potential to disrupt the growth plans of legacy tech into the auto,” says Brian Kelly, founder and CEO of BKCM, as quoted by CNBC.
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