IOTA is an ambitious project aiming to connect the world of electronic devices knows as the internet of things (IoT).
“The backbone of IOT is here” boasts their official website, “Scalable, Decentralized, Modular, No Fees”
They hope to win the support of companies and form partnerships in order to make all products connected through the IOTA Tangle. The tangle is referred to as a ‘next generation distributed ledger’ which instead of requiring expensive mining operations to scale, the businesses benefiting from the technology would actually be serving as nodes on the network.
It’s an exciting project in theory, and while the team are working hard in the background to bring everything to fruition, they are also reporting some very exciting projects.
One of the most important factors in connecting the internet of things is data. Data is the new oil as IOTA put it.
The largest obstacle preventing the fulfillment of the grandeur envisaged by ‘Big Data’ is the fact that the overwhelming majority of data remains locked in what is called ‘Data Silos’. Data silos do not, or at best very rarely, share its data outside its own closed environment. This leads to enormous quantities of wasted data, often over 99% is lost to the void, (source: McKinsey 2015) that could potentially contain extremely valuable information if allowed to flow freely in data streams that create an open and decentralized data lake that is accessible to any compensating party.
Prior to the internet, important data was locked away in the companies who collected it’s files. Now, companies can be incentivised to share their data and enable innovations and technological advancements to happen at an even faster rate.
The IOTA Data marketplace is rapidly growing and acquiring vast amounts of data which will help toward creating the future of tech.
#1 Iota Partnership with Bosch
Bosch are heavily involved in the IoT space. They’re eager to get ahead in the race toward a connected world, estimating 15.6 Billion devices will be connected by 2020.
The magic quality of the IoT is the connected world it makes possible: a world that’s getting bigger as the technologies linking devices become smaller, cheaper and faster.
Bosch and 1871 partnered up to found the IoT innovation space in Boston, USA to bring together some of the brightest minds in the space. The space announced on 17th October 2017 their partnership with the IOTA project.
“There is great potential through Distributed Ledger Technologies to make each IoT project more secure, efficient and provide increased transparency to consumers of IoT solutions,” says Dennis Boecker, Bosch IT global innovation lead and responsible for the Chicago Connectory. “Our goal is to increase the adoption of Distributed Ledger Technology throughout the Midwest region as IoT solutions and business models continue to grow.”
“IOTA and Bosch have been in dialog about the convergence between the Internet-of-Things and IOTA’s Distributed Ledger Technology since late 2015 and built up a strong relationship,” says David Sønstebø, founder of the IOTA Foundation. “Our official collaboration on this laboratory for exploring this overlap cements both entities’ goal of enabling an open and secure IoT ecosystem.”
Together with a number of other prominent business from all around the world, Bosch are also part of the IOTA Data marketplace, with the goal of increasing the adoption of distributed ledger technology.
Bosch have a newsletter which you can subscribe to here for updates and announcements.
#2 IOTA Partnership with Miscrosoft
The partnership between IOTA and Microsoft has been a topic of intense debate recently. The internet is awash with conflicting information about the partnership.
The debate was sparked when Omkar Naik, the leader of Microsoft’s enterprise Blockchain and Data Platform for the North Central region provided a statement claiming the company was partnered with IOTA.
“ We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative. This next generation technology will accelerate the connected, intelligent world and go beyond blockchain that will foster innovation real world solutions, applications and pilots for our customers”. Omkar Naik
The news resulted in a huge spike in price when the cryptocurrency increased over 500% from around $1 to over $5 at it’s peak back in December 2017. View Price Charts
The statement is still live on the IOTA blog.
Since then however, the claims have been refuted by both Microsoft and the Co-founder of IOTA, although as of 14th March the statement is still live on the site.
The Co-Founder of IOTA, Dominik Schiener said in an interview with TNW:
“We have never mentioned that any of the companies which are participating in the marketplace are our ‘partners. We call them participants. We are in touch with multiple divisions at Microsoft (Chicago, Paris, Munich). We are hosting two meetups today in Chicago and on Thursday in Paris which are hosted at the Microsoft offices.”
To summarise, although no formal partnership has been made, IOTA and Microsoft are in communication and working together on projects. Schiener alluded to the fact that Microsoft may be contributing to the data marketplace by monetising their data, but that does not mean the two are, by definition, partners.
#3 IOTA Partnership with Volkswagen
The world of motoring is at the cusp of being radically modernised, and the distributed ledger is here to help speed things up. Driver less technology is a fascinating use case for the IOTA data marketplace because as the cars operate in various driving conditions all around the world, every bit of sensory data can be fed into the data silos to improve both the future products of the brand, and also be sold for the right price to those who need it.
Volkswagen are working closely with IOTA, so much so that their Chief Digital Officer (CDO), Johann Jungwirth has joined the IOTA foundation’s supervisory board!
The news about the VW IOTA partnership was announced in January 2018. Jungwirth is in charge of leading Volkswagen through the inevitable digital transformation.
The skills, connections and influence Jungwirth can bring to the German based IOTA foundation could prove to be very significant.
Watch the VW CDO Talk about IOTA at the Bosch Connected world event 2018:
More IOTA Partnerships:
There are many more notable IOTA partnerships to be aware of too. The project is doing very well at getting big brand names on board with the idea, as well as reputable organisations such as the Oslo University and the Technical University of Munich.
Other organisations IOTA have partnered with include;
For the full list and lots more information about organisations IOTA are working with, and more IOTA Partnerships, check out their blog post which goes into more detail at https://blog.iota.org/iota-data-marketplace-cb6be463ac7f