EDAG CityBot to Use IOTA Tokens for Digital Payments
At a time when the IOTA development team prepares for Chrysalis, EDAG — a well-known pioneer and innovation driver in the mobility sector, has announced that its CityBot will use IOTA tokens for digital payments as per an update on Aug 11.
EDAG and IOTA Deal
Envisioning a future city that is clean, worth living, quite, smart, and friendly, the CityBot is more than a concept. At first, it is an extremely intelligent way of demonstrating the potential that can be found in the holistic view of mobility, and further demonstrates new opportunities for urban development.
IOTA said it will be possible for people and machines to exchange payment and data directly with each other. Of note, there will be no intermediary platform thanks to EDAG leveraging an open-source platform. Secondly, there will be no additional fees.
With EDAG CityBot being a multi-functional, emissions-free, fully autonomous robot vehicle with swarm intelligence, the vehicle can operate round the clock meaning there are ecological and economic efficiencies the bot tags from its continuous utilization.
It is based on a scalable operating system that combines security and vitally, IoT infrastructure for routing of the robot.
New Business Models and Reliability
From IOTA’s perspective, the CityBot offers new business models thanks in part to the individual utility modules and those that originate from the entire system.
As efficiency is at the core, IOTA will be used as a base layer for data transmission and as a reliable payment protocol. Specifically, EDAG will benefit from the fee-less structure of IOTA to offer services round-the-clock quickening amortization.
Platforms such as the Industry Marketplace — which supports IOTA, enable machines to automatically trade digital and physical goods. Exchange data are compliant to applicable industry standards, developed strictly in accordance with Plattform Industrie 4.0.
Leader in IoT
IOTA is the face of the Internet of Things (IoT) and is the most dominant platform. Even though it is plagued with controversies ranging from unhealthy hacks and the presence of a central coordinator, it continues to gain traction as data becomes the new oil.
The calls for automation and security means IOTA must be scalable and completely decentralized, a feat that will be achieved once Coordicide is executed.
Early this month, BTCManager reported that IOTA was one of the innovative platforms to participate in the EUR 80 billion European Union research program dubbed the CityxChange project.