Iota

IOTA Foundation Welcomes Volkswagen Executive

Avatar newsbtc 2 years ago

IOTA has proven to be an interesting project for many different reasons. So much even that major company executives are paying close attention to these developments. Volkswagen CDO Johann Jungwirth is joining the IOTA Foundation’s Supervisory Board. This is a rather intriguing development which helps validate this blockchain and digital currency project altogether.

Jungwirth is working for Volkswagen since late 2015. He is in charge of driving digital transformation for the Group’s 12 brands. These brands include household names such as Porsche, Audi, Lamborghini, and others. Having this person on board of the IOTA Foundation Supervisory Board is a  big step forward for the project as a whole. Considering how the project wants to enable global use cases, having Jungwirth on board will certainly be a big help.

A Major Step Forward for IOTA

It is the first time a C-level executive joins the supervisory board for a period of at least five years. This is an independent organization which meets regulatory to approve annual budgets. It’s also responsible for putting together the roadmap, rules of procedures, et cetera. Jungwirth’s expertise will certainly be put to good use in this regard.

Volkswagen Group CDO Johann Jungwirth comments as follows:

“IOTA has the potential to set a standard for trusted machine-to-machine transactions. With its brilliant technology, it’s no question why mobility and technology companies as well as other key players in the industry are joining the Foundation. I’m delighted to join the team and be a part of where IOTA is headed in the future.”

With IOTA focusing on transacting data and money, it has a lot of potential. Putting this idea into a working and reliable project is something else entirely. The project will need some big players on board to successfully complete this mission. The technology already facilitates payments, value chains, over-the-air updates, et cetera. A lot more use cases have yet to be explored in this regard.

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