IOTA And Audi Complete Collaboration Project – Results Are Positive
Today we’re going to be talking about ‘’IOTA and Audi’s Collaboration, and how it was such a great success for both companies.’
According to Blokt, the IOTA Foundation announced on Saturday that their four to five-month innovation sprint with Audi produced positive results for the industry. During the collaboration, IOTA helped Audi solve real-world problems in the areas of mobility, automotive, and the Internet of Things.
This is fantastic news for IOTA. The project has gained significant interest in the Internet of Things and business community with many industries and firms keen to pilot and trial the technology. David Sontebo the founder of IOTA reported that over 600 organizations have expressed strong interest in the technology.
For those who aren’t aware IOTA is not a blockchain network. The IOTA network is a distributed ledger known as the Tangle. As you can see here, transactions are not grouped into blocks and sorted in chains like other blockchain networks. The IOTA Tangle instead has a stream of individual transactions entangled together. Unlike blockchain networks, the IOTA Tangle enables high scalability of transactions. The more activity in the Tangle, the faster the transactions can be confirmed.
According to a Medium blog post, During the first initial weeks of the innovation sprint, Audi spoke to domain experts to define and assess their current problems. The team then worked with more experts to develop the prototype, gain feedback, and move towards gaining product-market fit.
The IOTA Foundation then worked with Audi as external consultants and helped them implement the IOTA technology in their existing operations, business models, and use cases. The Audi team reported very positive learnings from the IOTA team. Both sides learned from each other’s expertise and contributed to the final results.
Malte Schonfeld, the Venture Development Manager at AUDI Denkwekstatt Berlin discussed on LinkedIn his experience with the IOTA Crew. He noted, “what an awesome experience! Last five months we had a great time at the Audi Denkwekstsatt Berlin, working in cross-functional teams with IOTA on a new project. With the focus on enabling trust for the use in mobility, we pushed a new use case to reality. Stay tuned for further information.”
According to CoinGape, he was extremely thankful of everyone in the IOTA Team including founder Dominik Schiener and Alisa Maas, the Head of Mobility and Automotive at the IOTA Foundation for putting so much energy and passion into this project.
Now, When it comes to IOTA’s MIOTA token, in the last few days the price has remained quite low in line the stubborn market conditions. However, recently today, it appears as though the market has bounced back quite nicely, with many greens across the board, With Bitcoin and even IOTA hitting double-digit greens. According to Coinmarketcap, IOTA is currently sitting at $0.26 cents with a market cap of approximately $712 million.
While the price of IOTA’s MIOTA token has slumped significantly since its all-time high last year in December 2017, when it sat at $5, there are clearly strong fundamental growth prospects for IOTA.
What do you guys think?
Do you think despite IOTA’s current price, the company is performing well?
Or do you think they still have a long way to go?
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.