Bosch intends to apply IOTA technology in its project of autonomous vehicles
“Such investments represent the transition of Bosch from the status of the equipment manufacturer to the company that deals with data and data monetization,” said Tal Decker, senior technology development expert in Israel.
The announcement was made during Bosch’s fifth annual conference on IoT, an “Internet of Things”, which will be held later this month. The conference Bosch ConnectedWorld 2018 will be attended by one hundred and forty reporters and more than three and a half thousand visitors, the event is designed to create a platform for learning and sharing experiences in the field of IoT. The conference will be held from 20 to 22 February in the exhibition complex STATION (Berlin) and will be an event that will reveal the possibilities of IoT in the automotive industry.
In July, the BBC reported that Bosch shared information about working together with American company Tesla, founded by Elon Musk, to create the first stand-alone car ahead of competitors: Uber and Google. In its report, the German company said that it hopes to create its own technology of autonomous movement within the next five years and to introduce it into such models of cars as Daimler.
According to the Venture Beat report, Robert Bosch Venture Capital GmbH (RBVC) bought a significant number of IOTA tokens in December of last year. The report also reported that the company considers this event as an important step for the company and a contribution to the future of IoT technology. RBVC also joined the IOTA advisory board.
“Thanks to a protocol like IOTA, we are not just working on automating machines, but also allowing them to interact with each other in this new” machine economy, “said Dr. Hongquan Jiang, one of the RBVC partners.
Representatives of RBVC believe that IOTA technology has great potential for solving important problems in distributed registry technology for IoT, such as scalability and cost of transactions. Despite the fact that IOTA is still in its early stages of development, RBVC representatives believe that this technology can play a key role in the IoT industry as it matures.