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Seems like everything has a cryptocurrency attached with it. Venture arm of the German industrial giant Bosch Robert Bosch Venture Capital has recently purchased a “significant number” of MIOTA tokens, according to Venture Beat. MIOTA is a cryptocurrency based on the IOTA distributed ledger platform operated by the German IOTA Foundation.
The IOTA platform is focused on IoT use cases and allows connected devices to securely transfer data and money for a small fee. The cryptocurrency has already enabled more than US $10 billion in transactions and is currently being used for micropayment-based electric vehicle charging stations. As part of the purchase, Hongquan Jiang, a partner at RBVC, will join the IOTA Foundation’s advisory board.
IOTA and other distributed ledger solutions could help manage large enterprise IoT deployments because of their ability to automate back-end functions.