Bosch has 131 years of pure heritage of itself. Being established as German multinational engineering and electronics company headquartered in Gerlingen, near Stuttgart, Germany. It is the world's largest supplier of automotive components measured by 2011 revenues.
Recently news went viral that Robert Bosch Venture Capital is investing in IOTA. The firm will also join the network's advisory board. There is no doubt, the firm has a strong desire to go deeper into data rather than stick to its old business model and profit from hardware. Bosch Venture Capital has bought a significant amount of IOTA Tokens.
According to the Bosch, data is the future and it views IOTA and Autonomous Cars as a great way to connect micro-payments collection and information. The IOTA Platform will become a bridge for it and fill the gap for Bosch.
Adding more to this collaboration, the city of Taipei, South Korea is all set to use IOTA to adopt virtual technology in order to turn the city into an app-driven smart city. IOTA's data marketplace has been around us since 2015. Recently, IBM spent $2 Billion to acquire The Weather Company. The sole reason behind the purchase was getting access to data.
IOTA has a Market cap of about $10 Billion and it is already taking care of such large transaction happening on its ledger. As the exchange and value of data continue to grow in volume, IOTA's value will continue to grow on the open market.
It is an astonishing fact that the five most valuable publicly traded companies in the world i.e.: Apple, Amazon, Facebook, Microsoft and Alphabet(Google's Parent Company) all rely on the data.
The Internet-of-Things industry is growing at an approximate rate of 28.5% annually. Boston Consulting Group predicts the industry will be worth $267 billion by the year 2020.
Recently news went viral that Robert Bosch Venture Capital is investing in IOTA. The firm will also join the network's advisory board. There is no doubt, the firm has a strong desire to go deeper into data rather than stick to its old business model and profit from hardware. Bosch Venture Capital has bought a significant amount of IOTA Tokens.
According to the Bosch, data is the future and it views IOTA and Autonomous Cars as a great way to connect micro-payments collection and information. The IOTA Platform will become a bridge for it and fill the gap for Bosch.
Adding more to this collaboration, the city of Taipei, South Korea is all set to use IOTA to adopt virtual technology in order to turn the city into an app-driven smart city. IOTA's data marketplace has been around us since 2015. Recently, IBM spent $2 Billion to acquire The Weather Company. The sole reason behind the purchase was getting access to data.
IOTA has a Market cap of about $10 Billion and it is already taking care of such large transaction happening on its ledger. As the exchange and value of data continue to grow in volume, IOTA's value will continue to grow on the open market.
Importance of Data
It is an astonishing fact that the five most valuable publicly traded companies in the world i.e.: Apple, Amazon, Facebook, Microsoft and Alphabet(Google's Parent Company) all rely on the data.
The Internet-of-Things industry is growing at an approximate rate of 28.5% annually. Boston Consulting Group predicts the industry will be worth $267 billion by the year 2020.
The Bosch Approach
Bosch is one of the biggest and most advanced companies among the realm of vehicle parts suppliers and IoT.
Bosch ranked first in eight of nine key reputation attributes, making it the most admired automotive supplier worldwide. (link)
Bosch focuses on the 3S these days:
- Sensors
- Software
- Services
Interestingly enough, IOTA's capabilities are a perfect match for the Bosch and that's why it has invested ion it, of course. Yet the question remains what Bosch could do with it?#Sensors, #Software, and #Services. These three S’s are not only the building blocks of #SmartCities, they are our core competencies. #BoschCES #CES2018 pic.twitter.com/S7Vf8FVqzK
— Bosch USA (@boschusa) January 8, 2018
Smart Cities
Smart Cities will be playing a major role with the advent of IoT and will be a huge topic of the future, Bosch's tweet says it all:
Globally, the #SmartCity market is booming. Sales are expected to grow by 19% each year, reaching as much as $800 billion worldwide by 2020. By 2025, at least 80 urban areas worldwide will be smart. #BoschCES #CES2018 pic.twitter.com/NmnTeWBK18— Bosch USA (@boschusa) January 8, 2018
Las Vegas alone has announced plans to invest $500 million over next seven years in the direction of smart city infrastructure. In Bay area, a Beacon Project has been launched which is likely to save over $8 million across 15 years by simply using smart street lights.
"Bosch sensors are the eyes and ears of a connected smart city and in this case, its Brain is our Software.", says Mike Mansuetti, President of Bosch North America.
It becomes likely for future for all electronic products to be web-enabled by 2020. Considering such enormous scale of integration, this will result in an incredible amount of data which will be set free every single day. IOTA's Scalability and its speed enable it to be the base-layer or the foundation layer of all these transactions happening of information.
We will give an overview of some use-cases which could be technically achieved using IOTA infrastructure:
"Bosch sensors are the eyes and ears of a connected smart city and in this case, its Brain is our Software.", says Mike Mansuetti, President of Bosch North America.
It becomes likely for future for all electronic products to be web-enabled by 2020. Considering such enormous scale of integration, this will result in an incredible amount of data which will be set free every single day. IOTA's Scalability and its speed enable it to be the base-layer or the foundation layer of all these transactions happening of information.
We will give an overview of some use-cases which could be technically achieved using IOTA infrastructure:
Climate Monitoring
This facility encircles air quality, humidity and pollen concentration monitoring in order to improve the overall quality by actually implementing the measures undertaken to fight air pollution in particular. The product is already working: The Climo
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| Several of these Climo boxes were deployed in Las Vegas right before the CES in order to show the capabilities to the conference attendees. |
The idea is to accumulate the data from several points of the city in such a way that overall data gathered display unbiased results. Moreover, we can also focus on a specific area of the city in order to compare it with the other part of the city.
IOTA's tangle will be the layer on top of which these information fragments will be exchanged. Imagine hundreds of Climos in Las Vegas sending fresh data every second to the IOTA marketplace which will be real-time information. A Sophisticated Blockchain will be surely able to handle this, agreed. But what if hundreds of thousands of residents buy the same technology for their own roof in order to make a decent amount of money by selling the data to the air-quality-improving companies for Research and Development Purposes. That collectively roundups to hundreds of Climos plus hundreds of houses sending their data each and every single second over a public ledger! And this is the reason why IOTA is needed because of its Speed, Scalability and No Transaction Fees.
The Future will be really exciting when Smart Cities and IoT will start showing their magic. Cognitive Network will post more about IoT in recent time. Till then, stay engaged.