Volkswagen Chief Digital Officer Joins Blockchain Non-Profit Board

The IOTA Foundation, a non-profit Blockchain foundation for the Internet of Things (IoT) has announced that the Chief Digital Officer (CDO) of Volkswagen, Johann Jungwirth, will join the Supervisory Board, effective immediately. Jungwirth said:

The IOTA platform allows connected devices to digitally send money to each other in form of micropayments, making it useful for the IoT.

While board additions are not often of particular note, the recent additions of both Jungwirth and Dr. Hongquan Jiang, Partner at Robert Bosch Venture Capital, represent growing mainstream interest in the IOTA Foundation’s ‘tangle’ technology.

The company has recently been in the news for a misinterpreted partnership statement with Microsoft and others, and has seen its price rise and fall drastically over recent months, with highs over $5.50 before the end of last year. The coin is traded at around $2.40 as of press time, according to data from CoinMarketCap.

At press time, IOTA was trading at $2.58, up 8.9 percent on the day.