In our previous blog we described the connection between IOTA and Johann Jungwirth (Chief Digital Officer Volkswagen AG) and now we want to present you a summary of his column about the future integrability of distributed ledger technology into real world applications. The article was published in “Handelsblatt”, one of the biggest and most prestigious german economic magazine with the titel:"Das Auto hat bald ein eigenes Konto” ,translated: “The car will soon have its own account.”
In his elaboration Jungwirth describes the integration of data analytics, AI, connectivity and IoT as an driver of future transportation. This results in an increase of networking, which increasingly brings independent communication to the center of attention.
He predicts that by 2020 50 billion devices will be connected via the internet and the communication will be handled directly from machine to machine.
In his opinion, the everyday life of many people is made easier, because by analyzing data, for example, the currently most favorable charging station can be accessed. He also claims, and this is the most interesting fact in the column, that IOTA might play a key role and could become a major currency, due to the fact that it is fast, has no fees, has infinitive scalability and is save. He emphasizes the advantages over other currencies based on Blockchain, like Ethereum and Bitcoin. After addressing the quantum computer security of IOTA, he adds:
„Auch ich sehe hier großes Potenzial angesichts der vielen Milliarden Transaktionen, die Tag für Tag anfallen werden. In dieser spannenden, neuen Mobilitätswelt könnten selbstfahrende Fahrzeuge mit IOTA zum Beispiel Zahlungen für Fahrten abrechnen, die Gebühr fürs Parken im Parkhaus entrichten, Tank- und Stromrechnungen, Mautgebühren oder Werkstattbesuche bezahlen. Autonome Fahrzeuge könnten damit wie eigenständige Unternehmer agieren und sogar abhängig von Angebot und Nachfrage den optimalen Preis pro Fahrt selbstständig bestimmen und abrechnen.“
Engl.:
I also see great potential looking on billions of transactions that will occur every day. For example in this exciting new world of mobility IOTA self-driving vehicles could bill for travel payments, pay parking garage fees, pay for fuel and utility bills or garage visits. Autonomous vehicles could thus act like independent entrepreneurs and even independently determine and settle the optimal price per trip depending on supply and demand
-Johann Jungwirth
We see that IOTA is not far away from reaching the first real world application and is in our opinion one of the most underrated cryptocurrencies on the market.
We are looking forward to hearing about new announcements, but we are already certain that IOTA will play an important role in the future world of M2M payments. What do you think, let us discuss in the comments. 😊
If you want to read about Johann Jungwirth and his connection to IOTA visit our previous blog here.
Jan & Ibi
