- Aug 2, 2021
IOTA has followed a strict path of “scalable, decentralized, modular and no fees” policy for the secure transaction of data and money for a negligible fee, enabling the propagation of Distributed Ledger Technology (DLT). Since the inception of their data marketplace in November 2017, they have been gathering momentum with a 400% increase in their token value and a monumental investment from the Robert Bosch Venture Capital in December 2017.
As of today, the IOTA Foundation has declared its collaboration with ITIC (International Transportation Innovation Centre) with the aim of building a global smart mobility testbed network, providing a platform for embarking on a process of thinking through innovative endeavours and test run, new application procedures, the end products, services and business models to gauge their usability, suitability, sustainability and viability before they are implemented.
Questions regarding the significance of the above has been answered by their goal of establishing a network to assess the use of AI-based mobility services in different geographical, albeit hypothetical, settings such as “smart cities” by using a combination of virtual, rooted and physical methods of testing. The test data pool created as a result of this can then be used by the smart mobility ecosystem, enabling developers to access these test fleets and intricacies of infrastructure within the ITIC global network system.
IOTA’s work here includes the acquisition, sharing, and selection of high-quality test data from certified test sites, with a holistic involvement from bōth private and public sectors in this collaboration, now called the ITIC Mobility Testbed Alliance. This shall serve as the platform for testing new business models and approaches to new technology with IOTA distributed ledgers, thereby increasing the viability, efficiency, and scalability of transaction levels and also using the Data Marketplace as a leverage to “buy and sell vehicle and infrastructure test data across participating testbeds.”
The Co-founder at The IOTA Foundation, David Sonstebo has remarked that they are establishing a “comprehensive Automotive and Transportation Working Group” and the consequent partnership will focus on an open-sourced infrastructure development for automated vehicle testbeds. They promise the longevity of the vision that shall develop well and stand unfazed through 2018.
The outcome of the collaboration is expected to be demonstrated at public events in 2018 and will welcome the participation of joint partner companies, opening up additions to the already existing foundation for a standardized and accepted testing network, an economy that can handle its brunt and make accessible the data to developers globally.