Volkswagen and IOTA Present the Auto Industry of the Future

Volkswagen and IOTA Present the Auto Industry of the Future

IOTA and the world’s largest carmaker by sales volume, Volkswagen, are due to present a proof of concept tomorrow (Tuesday, 12 June) of the benefits of blockchain technology for the auto industry.

The presentation will take place on the grand central stage of the CeBit18 venue at the Hanover Fairground in Germany, billed as “Europe’s business festival for innovation and digitisation,” .

 

IOTA’s co-founder, Dominik Schiener will join VW financial product owner Fabian Freiter and VW blockchain developer Nicolai Bartkowiak in delivering a discussion titled “Blockchain in Future Mobility”

Security, Transparency and Trust in a Self-Driving World

The panel are expected to outline how Volkswagen intend to integrate IOTA’s open-source distributed ledger, known as Tangle, into their range of cars including self-driving versions that are currently on the drawing board or testing stage.

Expected benefits for Volkswagen in partnering with IOTA are numerous but include automatic car software updates, recall efficiency and incorruptible audit trail & ownership data.

The importance of vehicle data integrity is a particularly sensitive issue for the auto industry, highlighted by recent research that demonstrates numerous cases of how malicious software can be introduced from external sources to interfere with car steering, acceleration and braking.

As with IOTA’s recent link-up with the United Nations for Project Services, the collaboration with Volkswagen is intended to increase transparency and trust for all parties involved.

The proof of concept news is the latest development of an ongoing partnership that saw Chief Digital Officer (CDO) of Volkswagen, Johann Jungwirth, join the IOTA Foundation’s Supervisory Board earlier this year.