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In addition to software updates, IOTA will assist Volkswagen to perform product recalls and store statistical data. Both IOTA and Volkswagen have acknowledged the potential use of Tangle technology in developing automobile related products such as usage-based insurance.
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Similarly, Porsche recently tested blockchain technology based user authentication for passengers. Daimler is piloting MobiCoin, a blockchain based driving rewards program. In case of IOTA and Volkswagen, the latter’s CDO has joined the supervisory board of IOTA foundation. Volkswagen Group owns popular brands such as Lamborghini, Bentley, Porsche, Audi, and Bugatti.
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