- IOTA is a blockchain project that aims to change the paradigm of IoT and M2M sectors
- IOTA recently inked partnership with Jaguar which allows the latter’s drivers to earn MIOTA
- KPMG dubbed IOTA one of the four most innovative blockchain projects
German blockchain project IOTA has made numerous strides this past week. From a partnership with Britain’s largest automobile manufacturer Jaguar to reports of interest from another vehicle giant Ford, Tangle-based IOTA looks primed to be one of the biggest gainers of the next bull market.
IOTA, the Germany-based blockchain project that aims to revolutionize the machine to machine (M2M) economy and the Internet of Things (IoT) space is one of the most exciting projects on the block. The project differs from other blockchain initiatives right from the most basic level in terms of technology. And if some of the recent developments are anything to go by, things look pretty vibrant for IOTA in the near future.
Partnership with Jaguar
One of the most important developments for the IOTA Foundation in 2019 is its partnership with British automobiles behemoth Jaguar.
Blockchain Reporter informed its audience on April 29, 2019, how drivers of Jaguar’s vehicles will be able to earn MIOTA cryptocurrency just for sharing relevant traffic data with concerned monitoring authorities.
Jaguar announced that it was testing a new prototype in its F-PACE and Range Rover Velar models. Per sources in the know, the company wants to “achieve zero emissions, zero accidents, and zero congestions” from the project.
KPMG Backs IOTA
As reported by Blockchain Reporter on May 5, 2019, KPMG acknowledged the necessity of IOTA’s Tangle technology in the IoT and M2M sector where a traditional blockchain infrastructure would not be able to keep up with the number of transactions.
Unlike orthodox blockchains, where every transaction is validated in a linear pattern, Tangle facilitates the validation of transactions in a non-linear and parallel manner. This approach to validation ensures the processing of multiple transactions in one-go.
Ford Visits IOTA Industrial Lab
Most recently, on May 8, 2019, reports emerged stating that Ford Germany had visited the IOTA Industrial Lab to discuss a new proof-of-concept (POC). Although not much is known about this POC, it can be safely stated that IOTA is not going unnoticed by automobile juggernauts and could soon propel to heights previously untouched.