Volkswagen Digital Car Pass Will Greatly Boost IOTA (MIOTA) Security And Growth

Volkswagen will be collaborating with IOTA (MIOTA) to launch a digital pass next year. Through this partnership, the car manufacturing firm will use the blockchain technology of IOTA (MIOTA) to keep track of car data, like the mileage and other parameters.

What Volkswagen Wants To Achieve With “Digital Car Pass”

The goal of the firm is to use the data to improve the performance of the cars they produce. While this use-case doesn’t really require MIOTA tokens, it will play a significant role in the growth of the IOTA (MIOTA) ecosystem, especially when it comes to security.

Most of the fear, uncertainty, and doubt about the digital currency revolves around the idea that it’s not decentralized since it uses a central coordinator. Nevertheless, the central coordinator in the blockchain project is for security purposes, but as the scope and usage of the network grow, the need for a central coordinator will decrease.

Volkswagen And IOTA (MIOTA) Partnerships Shifts IOTA Away From A Central Coordinator

The collaboration between Volkswagen and IOTA (MIOTA) marks the first step in the drift away from a central coordinator. The reason is that it would add an enormous amount of transactions into the Tangle, and this would make the blockchain very difficult to attack.

The Volkswagen partnership and some other developments which have been announced recently have caused a rally in the value of the digital currency. This could be a sign for larger things to come. Once these deals kick-off and investors start seeing the effect on the blockchain, the digital currency would start seeing more adoption and use cases.

IOTA (MIOTA) Price Today – MIOTA / USD

Name Price
bitcoin
Bitcoin
$10,089.44-1.60%
iota
IOTA
$0.2630.093%

At press time, IOTA (MIOTA) is trading at 73 cents after a decrease of about 1.5 percent over the past twenty-four hours and an increase of more than 37 percent over the past seven days. The current market cap of the digital currency is $2.01 billion and its trading volume over the past twenty-four hours is $48.73 million.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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