Bosch announced on December 19th that Robert Bosch Venture Capital GmbH (RBVC) purchased a significant amount of IOTA tokens. RBVC is the corporate venture capital company of the Bosch Group. In addition, Dr. Hongquan Jiang, a partner at RBVC, will also join the IOTA Foundation’s advisory board.
“RBVC has made a strategic move in buying these IOTA tokens, one of the largest cryptocurrencies in the world. IOTA, which is the first distributed ledger technology to go beyond a blockchain, enables machines to securely transact data and money with each other.” – Forbes
There have already been other big brands partnered with IOTA. They include Samsung, Fujitsu, Accenture Labs, Deutsche Telekom, and Microsoft. Right now, it isn’t known if any other brands have directly invested.
IOTA is a non-profit company focusing on providing secure communication between machine and the internet. Instead of traditional blockchain, IOTA used directed acyclic graph (DAG) technology. This makes IOTA transactions free regardless of transaction size, scalable, very fast confirmation times for transactions and the system can handle an unlimited amount of transactions simultaneously.
Seeing that technology is a rapidly growing sector, particularly machine-to-machine capabilities, it is evident that Bosch wants to accelerate their stake in the internet of things. This places IOTA on the list of very stable cryptocurrencies in the currently saturated crypto market. With over 1500 coins on board and counting, IOTA seems to have a very bright outlook on our future.