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Robert Bosch Venture Capital is investing in IOTA. The firm is also joining the network’s advisory board.
Digging In Deep With Data
Bosch is a 131-year-old company, yet it’s on the cutting edge of crypto and IOTA’s tangle-style platform. Clearly, the firm desires to go deeper into data rather than stick to its old business model and profit from hardware.
Selling data is the future and Bosch views IOTA and autonomous cars as a great way to collect micropayments and information.
Add this to the fact the city of Taipai, South Korea is set to use IOTA to turn the city into an app-driven smart city. Its obvious IOTA is really making some waves.
IOTA’s data marketplace has been in the making since 2015. Around the same time, IBM spent $2 billion to acquire the Weather Company. The sole reason for the purchase was to get access to data.
IOTA’s Automotive Ambitions
IOTA is already taking care of $10 billion worth of transactions on its ledger. Wireless no fee micro-payments relating to electric vehicle charging and parking are already happening.
As the exchange and value of data continues to grow in volume, IOTA’s value will continue to grow on the open market.
The Future Is Friendly
The five most valuable publicly traded companies in the world all rely on data as their number one commodity. Those companies include Apple, Amazon, Facebook, Microsoft and Alphabet (Google’s parent company).
The Internet of Things industry is approximately growing at a rate of 28.5% annually. Boston Consulting Group predicts the industry will be worth $267 billion by the year 2020.
Consider where IOTA’s tangle technology lies within these two trends. Couple that with its commitment to building ‘smart cities’. It makes perfect sense for Robert Bosch to jump on board now and ride the wave into the future.
A future where self-driving cars will be able to platoon together on the freeway, saving fuel and moving faster in a safer way than cars have ever been able to do before. This will all be possible thanks to data, and the real-world application of it is what makes the Bosch/IOTA partnership an interesting one to watch for the long run. Cryptocurrency prices are currently rebounding after a strong recent downturn. Perhaps Robert Bosch and IOTA will prove the long-term value of the IOTA token.
As long as they don’t mislead the public about the nature of their partnership the way they did with Microsoft of course.
Featured image from Shutterstock.
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