IOTA, one of the largest cryptocurrencies, announced a partnership with Porsche to work on project “Program 4” initially developed by Autobahn, a startup. This was reported on the official website of IOTA.
Presumably, “Program 4” develops intelligent car systems that support the concept of Smart Mobility.
The @PorscheLab is looking forward to work together with @iotatoken & @Porsche on a @StartupAutobahn Project. #StartupAutobahn is the ultimate innovation platform that unites tech companies with the tech expertise of #SiliconValley & the best of German engineering. #Porsche #IOTA pic.twitter.com/xMU7BSuX8r
— IOTA News (@iotatokennews) May 5, 2018
IOTA token price jumped 18% up to $ 2.57 upon the announcement of the new partnership. According to Coinmarketcap, within the past 24 hours the value of the token has leveled down to $ 2.30.
That would not be IOTA’s first cooperation with motorcar manufacturers. Earlier the company announced a partnership with Volkswagen. IOTA is also one of the partners of the Mobility Open Blockchain Initiative (MOBI), which currently joins 29 companies, including Bosch, BMW, GM, Renault and IBM. Their goal is introduction of blockchain technology to the industry.
Robert Bosch Venture Capital (RBVC), a venture division of the Bosch Group, invested in IOTA in February 2018.
By Ekaterina Ulyanova