IOTA update – Volkswagen’s CDO Johann Jungwirth joins IOTA Foundation

IOTA is one of the non-profitable blockchains which getting more valuable in the market in recent days. Currently, it is 11th most valuable digital currency among others according to the coinmarketcap.com on Tuesday, 23rd January. After the launch of its data marketplace recently in November, MIOTA (token of IOTA) value rose high. With the help of distributed ledger technology (DLT), it makes the money transaction securely along with data with each other for less fee.

Also, they got more attention from the public and some big companies are started involving into their ideology like Robert Bosch Venture Capital’s investment, and ITIC partnerships. Following that, the IOTA foundation announced their next supervisory board member on 23rd January. Johann Jungwirth is new to the IOTA Foundation supervisory board, who is the chief digital officer (CDO) at Volkswagen.

The role of Johann is to be overview the annual roadmap and advise on upcoming collaborations with the Volkswagen. Also, the common roles of the supervisory board such as approval of annual budgets, roadmaps, rules, and procedures.

Jungwirth said that “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.”

The additional collaborations between IOTA and Volkswagen will be updated in upcoming weeks if all their thoughts will be going well.

About Jungwirth: He was the director of Mac systems engineering at Apple. Before that, he worked as a president and Chief Executive Officer (CEO) of the Mercedes-Benz research and development branch of North America. Then now at Volkswagen as a Chief Digital Officer (CDO) since 2015, who has a responsibility for driving the digital transformation of various brands in the Volkswagen Group.

About IOTA: From the December 2017, the value and importance of IOTA are got up high. The technology behind this foundation aiming and working towards on less fee payment for the electric vehicle charging, parking, and more. Also, it is creating and enabling the less transaction fee payments with secure transparent value chains in logistics.

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