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IOTA Foundation and Audi announce a new partnership

IOTA has announced an exciting partnership with AUDI Think Tank. The continuous efforts of IOTA to design and develop mobility ecosystem which is permissionless as well has been the underlying objective behind the announcement.

IOTA had started a one week Google Design Sprint with Audi Denkwerkstatt, which is a Think Tank of Audi. The partnership was basically meant to explore Tangle-based use cases, design a low-level prototype and to gather customer feedback.

IOTA token had posted on its Twitter page as follows:

“Audi Think Tank & IOTA Foundation explore Tangle-based mobility use cases https://blog.iota.org/audi-think-tank-iota-foundation-explore-tangle-based-mobility-use-cases-29d43e1cf51 … #IOTA #Mobility” A member of Twitter called OliverHoerr posted in this context, “Sounds like a great topic for a Design Sprint. Would be interesting to hear more about the outcome.”

The Audi Think Tank in 2012 stated about its, “intelligent approaches for the mobility of tomorrow” on its official website. The official portal of the Audi Think Tank further mentions,

“Many of the projects being run by Audi address the ongoing development of the world’s rapidly growing cities. In the Audi Urban Future Initiative, one of the company’s think tanks, we are seeking intelligent approaches for the mobility of tomorrow.”

As per the blog post, “IOTA’s open source protocol is predestined to be an innovation accelerator for any kind of business ideas that rely on trust in data, scalable & safe machine to machine communication & transaction settlement.”

The Foundation thus acknowledges such kind of collaboration as per what the blog reads. IOTA Foundation believes that the partnership can provide them an exposure to the developmental and innovative approach undertaken by the automakers. The basic purpose of the Foundation is providing a bolster towards standardizing the advanced technology of distributed ledger.

The Tangle is IOTA’s answer to what project participants believe are problems with traditional blockchain technology. IOTA is known for ‘Tangle’, blockless and distributed ledger technology of IOTA and for internet of things.

Blockchain technology offers a compelling vision of a decentralized network allowing peer-to-peer transactions without any fees. But one of the prominent inefficiency of blockchain was technical flaws in its design. IOTA solved the inefficiencies of the Blockchain technology by enabling feeless, scalable and secure settlement of transactions and also building upon the machine economy.

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Aayushi Dhawan
Aayushi Dhawan is an avid reader, researcher, crypto writer and a passionate student. While pursuing her graduation in commerce at SRCC, she realized that writing and Finance give her immense pleasure. She is currently pursuing her post graduation in Commerce (Finance) from Department of Commerce, Delhi School of Economics and keeps on exploring the intricacies of research, her biggest strength.