Recently it was announced that Johann Jungwirth, the Chief Digital Officer (CDO) of Volkswagen will become a part of the Supervisory Board of the IOTA Foundation. The IOTA Foundation is considered to be one of the most promising organizations in the cryptocurrency world.
Mr. Jungwirth commented:
The IOTA platform allows connected devices to digitally send money to each other in form of micropayments, making it useful for the IoT.
IOTA eliminates the creation of mines and makes the system 100% decentralized. Those who have transactions are the only persons in the system. (Unlike Blockchain, which quality and speed of work slows as the numbers of users increase). This technology is incredibly promising and scalable for a large number of applications.