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IOTA [MIOTA] and Porsche – joint project for Startup Autobahn

Joel Mathew



IOAT and Porsche - joint project for Startup Autobahn
Source: Pixabay

According to the latest update from IOTA’s Twitter handle, IOTA and Porsche Digital Labs have collaborated to work together on the ‘Program 4’ a project envisioned by Startup Autobahn.

Startup Autobahn is an innovative start-up company which was started in May 2016. The company was founded by Daimler, Plug and Play, University of Stuttgart, and Arena2036. Since then it has recruited 9 more start-ups and has worked on various projects regarding the innovation and future of mobility. Startup Autobahn is planning to showcase its projects at the upcoming Expo Day in July 2018.

Recently Startup Autobahn added IOTA, Porsche, and other tech start-ups to work on an innovation platform for smart mobility. In February, Porsche was testing the application of blockchain technology in the automobile industry. The blockchain technology offers a secure network and enhances vehicles authorization.

IOTA is an innovative company that runs an open-source distributed ledger that provides secure payments and communications between technologies based on the IOT (Internet of Things). IOTA is known for using DAG instead of the blockchain which makes it exponential. IOTA offers free transactions regardless of the size of the data or transaction.

IOTA’s token MIOTA is ranked number 9 on coinmarketcap. IOTA [MIOTA] has a market capitalization of $6.6 billion with a circulating supply volume of $113 million. At press time the trading price is staked at $2.38, the prices have dropped in the last 24 hours by 0.62%.

On the 3rd of May 20:29 UTC, MIOTA reached $2.65, highest in the last four months. The market capitalization for the currency had reached $7.3 billion at that time. After a week of positive growth, MIOTA market has dropped in the last one hour by 0.7%.

Slade a techno-geek says:

“IOTA is a revolutionary ideology. Only a few tech-companies truly care about innovation and the future, these people have brilliant ideas. Some of these ideas have been incorporated already, I remember the Ted talk.”

Van Hell-sling a social media activist says:

“Porsche and IOTA working together, automobile industry developing new standards, I guess.”

Alfrome a techno-analyst says:

“Blockchain will be used in an automobile but why? Or is it the IOTA network that will be connecting the technologies. Hmmmm. No wonder Autobahn needs IOTA.”

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Joel Mathew is a full-time creative content writer for AMB Crypto. He's an English honors graduate from Christ University. He's skilled in research analyses and produces valuable content in the field of blockchain and cryptocurrency.