The value of blockchain is increasing as we speak and in the blockchain news today, we can see how the global corporation Bosch praises the DAG technology, blockchain and DLT. Even though they did not directly point to IOTA, the co-founder of IOTA David Sonstebe commented and was quite enthusiastic about the recognition of the technology by Bosch.
For those of you who don’t know, The Bosch Group is a leading global technology and service provider which has around 400,000 employees worldwide and sales of 77.7 billion in EUR as of 2019. Bosch praises the DAG technology, releasing a video in which they talked about the global corporation focused specifically on the blockchain.
💭 Imagine a #smart refrigerator that adjusts its energy consumption depending on where the electricity comes from. In an #EconomyofThings this would be possible. But how does the #technology behind it work? Watch the video & find out! More use cases: https://t.co/1CnoSIGnBE pic.twitter.com/o4c4FmZt6a
— BoschGlobal (@BoschGlobal) July 12, 2020
Bosch explained the DLT in the second part using Directed Acrylic Graphs (DAG). Even if IOTA is not mentioned by name in the video, a lot of cryptocurrency enthusiasts will agree that the Tangle is probably described in the video. On top of this, it is no secret that the IOTA Foundation and the global corporation Bosch have a very good relationship.
Also, Bosch praises this technology and it is easy to see that their relationship is solid. Bosch was in the IOTA news in December 2017, when they invested in the foundation through its venture capital arm, named Robert Bosch Venture-Capital (RBVC).
The corporation also bought an unknown amount of IOTA tokens to participate in the foundation. In addition, the corporation filed several patents referencing IOTA, with an IOTA-based digital payment system that has been attracting attention, especially in January this year.
With this in mind, it is not surprising that the co-founder of IOTA, David Sonstebe, practically gave “the solution to the unspoken mystery” of Bosch. He also shared this Bosch video via Twitter and commented on it as following:
Over 5 years ago, IOTA’s vision for using DAG in DLT to enable the Economy of Things was a nascent concept. It’s great to see it explained so eloquently by a major conglomerate.
Over 5 years ago, IOTA's vision for using DAG in DLT to enable the Economy of Things was a nascent concept. It's great to see it explained so eloquently by a major conglomerate. https://t.co/CewxzG4ADy
— David Sønstebø (@DavidSonstebo) July 12, 2020
The video also shows how Bosch praises the blockchain technology in general, with a focus on proof of work, proof of stake and second layer solutions. Nonetheless, the corporation points out that blockchains have limited scalability for higher transaction rates.
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