Johann Jungwirth Joins IOTA Foundation
Johann Jungwirth, Chief Digital Office at Volkswagen AG, has officially joined the IOTA Foundation. This organization is non-profit, government approved, and based in Berlin, Germany. Its purpose is to organize, manage, and fund the development of the IOTA platform. As most crypto-enthusiasts might already know, IOTA leverages cryptographic technology to trade its tokens on the Internet of Things. The “things” are physical devices such as appliances or vehicles. All data produced by the “things” is securely stored on IOTA’s distributed ledger.
During the last few months, IOTA has added many new members to its organization. It has even collaborated with big name companies such as Microsoft and Fujitsu. Now, Volkswagen’s Mr. Johann Jungwirth will be joining the company’s supervisory board. He has worked with Apple, serving as their “head of digital transformation”. In addition, he was in charge of research and development for the North American branch of Mercedes-Benz. During his time with Volkswagen, he has also managed the digital transformation of high-profile brands such as Audi, Bugatti, Bentley, and Lamborghini.
The IOTA organization has tasked Mr. Johann with overseeing future projects between IOTA and Volkswagen. He’ll also be responsible for approving the organization’s annual budget, policies, and procedures. According to the IOTA foundation, there will be several upcoming collaborations between Volkswagen and IOTA, which will be announced within the next few weeks.
Johann Thinks IOTA Will Set New Standards
Mr. Johann states, “IOTA has the potential to set a standard for trusted machine-to-machine transactions”. When speaking about IOTA’s technology, he calls it “brilliant” and says that’s why so many tech companies are joining its foundation. David Sønstebø, the founder of IOTA, said that his organization was “thrilled” to have Mr. Johann on board. Mr. Sønstebø also referred to the Volkswagen executive as a “visionary” who can help IOTA implement several real-world use cases for their technology.
On January 5th, 2018, it was announced that IOTA had partnered with the International Transportation Innovation Center (ITIC). ITIC is an American non-profit organization that engineers “connected, automated, and zero-emission” driving. Through this strategic partnership, both organizations intend to create a worldwide alliance of smart mobility testbeds. These testbeds will utilize IOTA’s technology to buy and sell vehicle test data. Since these projects require a high level of technical expertise in the automotive industry, the IOTA organization should definitely benefit from Mr. Johann’s extensive experience and knowledge in this domain.
Currently, the IOTA platform has the 11th largest market capitalization (over $6.4 billion CoinMarketCap). Its token is trading at around $2.31 and had shot up to around $5.50 back in December 2017. The key thing to note here is not IOTA’s current market cap nor the price of its token. What we need to watch more closely is the result of the efforts of its collaborations and how well its technology performs. Let’s see if it will live up to the hype and expectations.