Multinational Giant Bosch Just Made a Large Investment in IOTA

Source : Multinational Giant Bosch Just Made a Large Investment in IOTA
Robert Bosch Venture Capital (RBVC), the corporate venture capital company of the Bosch Group, has taken its first step into the crypto world with a large investment in , a DAG-based, zero-fee distributed network being developed to accommodate micro-transactions for the Internet of Things (IoT).
Robert Bosch GmbH, a giant among multinational industrial companies with headquarters in Germany, produces household appliances, automotive parts, and other specialized technologies. It is the world’s largest supplier of automotive components. Bosch is now one of the first multinational firms to openly invest in cryptocurrencies. Specifically, the business has purchased a significant amount of MIOTA tokens, the cryptocurrency of the distributed network.
Why ? Unlike Bitcoin, , and other blockchain-based cryptocurrencies, is DAG-based (Directed Acyclic Graph), and does not have the same scaling issues that blockchains tend to have. At present, can scale to accommodate about 100 times more transactions per second (TPS) than Bitcoin and , and as the DAG grows, TPS will increase, and so will decentralization. At the same time, , also unlike Bitcoin and , takes no fees from users for sending transactions, it is completely free. This is because DAG is a different type of technology than blockchain and miners and mining rewards are not part of ’s distributed (referred to as the Tangle).
What does Bosch hope to gain from this investment? Bosch is a leading manufacturer of specialized automotive and appliance components, the actual hardware, but now the company is seeking to market the data, or the software, that passes through their smart devices and sensors. An investment in in its infancy is a step into the game of IoT for Bosch. While they admit that is only one option, and investments in other DLTs might also follow, Bosch has been working with for several years and has stated that they are very impressed with the network and its potential to advance the IoT.
Dr. Hongquan Jiang, a partner at RBVC, has also joined the Foundation’s advisory board. Dr. Jiang explains, “RBVC is, of course, also evaluating and working with other DLTs… has the potential to solve some fundamental problems in the DLT for IoT, namely the scalability and transaction cost issues. The technology is still at an early stage…RBVC will, as it always does for its portfolio companies, try to help the Foundation in the industrialization of this technology via our network. We will connect the development team of to industrial experts and decision makers. We will also give them advice in the domains where we have experience. Bosch is a pioneer in the industrialization of DLT. The deal is another proof of Bosch’s commitment to this field.”
has also recently partnered with several other big names in IoT, including CISCO, Volkswagen, Samsung, and even the city of Taipei in Taiwan. However, many researchers who have taken the time to examine ’s network are not so confident in its ability to support the IoT. In December 2017, MIT published an article criticizing and the team. In the article, which was actually a critique of another article posted by Mike Orcutt in favor of , MIT claimed that Orcutt was stating mistruths and developers have given conflicting explanations for vulnerabilities and security flaws in software. developers responded to this with a lawsuit claiming academic fraud and stated that MIT really had nothing to do with the article.
In fact, everywhere you look, you will see passionate claims for and against , it is truly a technology that has spurred intense controversy. But one thing is sure; if and its MIOTA token does become the crypto-fuel that runs the IoT, and all these machine to machine transactions – if it does evolve to be the gas for a new machine economy – early investors who set up large IOTA nodes will benefit greatly. They will have access to valuable data and a significant stake in the control of the network. This is certainly the motivation behind RBVC’s investment.
Despite all the criticism and the serious security bugs found in their software, IOTA is currently being used in several interesting real-world projects, including an intriguing DIY bank/payment solution called Carriota. Like Bitcoin and , it is a beta technology still in its infancy, and it will take time to see how far it can go. The bickering and strife, along with the passion and potential, surrounding IOTA is reminiscent of three or four years ago. At the least, it is a captivating asset to buy and hold for a while. Bosch is betting on it.
The post Multinational Giant Bosch Just Made a Large Investment in IOTA appeared first on BTCMANAGER.

Follow :

Laisser un commentaire

NE PAS suivre ce lien ou vous serez banni du site!