Last Minute: IOTA Receives Investment From Bosch!

Robert Bosch Venture Capital RBVC has invested heavily in the IOTA cryptocurrency, according to an article by news sources close to the company.. This is RBVC’s first investment in cryptocurrencies.

Internet of Things (IoT), the cryptocurrency of the cross-device internet network, IOTA , had recently experienced a huge boom in market value. The price of IOTA, whose symbol is known as MIOTA, had a full 400% growth and took the 4 place among all cryptocurrencies.. This was due to the Microsoft and Sharp partnership statement made in November, which later turned out to be only partially true.

Out of the investment, RBVC partner Dr.. Hongquan Jiang will also act as a consultant to the IOTA foundation team. It is known that RBVC’s particular interest in IOTA is the “Tangle” technology.. Tangle is a connection technology that enables the Blockchain protocol to be used between machines included in the IoT network.. Speaking about the investment made, Dr.. Jiang explained:

“We have been working with the IOTA team for over 1 years. I’m pretty excited for IOTA’s innovative Tangle technology. In this IoT space, automated machine-to-machine communication could potentially be made the underlying technology for security and payment systems.”

IOTA co-founder David Sønstebø is also in the relationship with Bosch. describes the relationship as follows:

“Bosch and IOTA have been in touch since 2015 and working together in different fields. This includes projects such as the Trusted IoT Alliance (TIOTA).. The decision to purchase IOTA tokens made by RBVC solidifies the idea of ​​the ‘Machine Economy’ and confirms that the big names in the industry share our vision.”

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