Robert Bosch Venture Capital Invests in Blockchain Technology
The IOTA Foundation, an open-source non-profit foundation from Germany, has announced that, following the successful launch of IOTA’s data marketplace, Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group, has purchased a significant amount of IOTA tokens. Dr. Hongquan Jiang, Partner at RBVC, will also join the IOTA Foundation’s advisory board.
RBVC hopes to intensify the collaboration with IOTA and help elevate the technology to maturity by bringing it closer to Bosch’s global ecosystem and key partners. IOTA enables machines to securely transact data and money with each other. This is the stepping stone to enable Internet of Things based applications and business models for mobility, energy, Industry 4.0 etc. The IOTA technology has been utilized for use cases including transparent value chains, secure Over-the-Air Updates and feeless micropayment-based electric vehicle charging, parking and others.