Bosch Auto Parts is getting deeper into IOT and crypto all at once

The top auto-parts manufacturer in the world — according to the June 26, 2017 issue of Automotive News — is the Bosch Auto Parts. Most cars sold today have a Bosch part somewhere in them and the company saw €78.1 billion in revenue just last year. The German-based company is also a supplier of numerous other products including technology, appliances and power tools.

Bosch was founded in 1886. The company hasn’t excelled for over 125 years by remaining idle: research and development is a big part of its strategy with a budget of €7.3 billion on R&D alone.

So what’s next for Bosch? It looks like it may be IOT – Internet of Things – and crypto.

If we take a look at the hiring plans for IOT positons at Bosch there was a sharp increase in jobs related to Internet of Things last fall.

bosch iot jobs

That timeframe is especially significant because on Oct. 17, 2017, it was announced that Bosch had partnered with a top 10-crypto currency (by market cap) called IOTA. IOTA is a Tangle-based crypto currency with the goal of being the default protocol between all devices in the Internet of things (IOT). The release explained:

“IOTA and Bosch have been in dialog about the convergence between the Internet-of-Things and IOTA’s Distributed Ledger Technology since late 2015 and built up a strong relationship,” says David Sønstebø, founder of the IOTA Foundation. “Our official collaboration on this laboratory for exploring this overlap cements both entities’ goal of enabling an open and secure IoT ecosystem.”

It’s a lofty goal, but with Bosch on board and with the number of connected devices – cars, door locks, toys, refrigerators, smart TVs, and now car parts — it only makes sense that there would be a push for a universal protocol.

Bosch Auto Parts is getting deeper into IOT and crypto all at once was originally published on media.thinknum.com. It was translated by the IOTA-News Community. The Community curates, examines, and summarizes news from external services while producing its own original material. Copyrights from external sources will be credited as they pertain to their corresponding owners. The purpose is to make use of 3rd party content or pictures as either allusion or promotional endorsement of mentioned sites. If you have a claim of copyright infringement with respect to material, please mail to support[at]iota-news.com. IOTA-News.com is a community run website and is NOT affiliated with the IOTA Foundation in any way.

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