In recent developments, IOTA Foundation announced the launch of “IOTA Access,” which is open-source infrastructure that is used to power access control systems for smart devices. IOTA has teamed up with large corporations such as Jaguar Land Rover, STMicroelectronics, NTT, and others to launch software that would provide consumers with remote access to cars and any other IoT resources.
Remote Access Software
According to an announcement, the IOTA Foundation has unveiled the launch of “IOTA Access,” which is software that can essentially grant consumers remote access to vehicles and any other IoT resources. IOTA Access is open-source framework that is leveraged to develop access control systems for smart devices.
Initial launch partners of the software include Jaguar Land Rover, STMicroelectronics, NTT Data, and many others. With the integration of IA, people can monetize pretty much any device regardless of the time or their physical location. The software will provide users with many abilities such as:
- Granting or revoking access whenever needed
- Implementing conditional access restrictions
- Charging somebody else for access and other functions
- Seamless integration into existing apps through APIs
Car companies like Jaguar Land Rover will have endless opportunities while integrating IOTA Access. According to a report by Reuters, it is believed that the software will be integrated into each vehicle. In doing so, consumers would have the ability to access their trunk remotely, amongst many other possibilities. For example, say a father parks his Jaguar at the train station every morning before he gets on a train. If his son forgot something valuable in the car, the father would not be able to rush back on short notice. Instead, by leveraging the IOTA Access software, the father would be able to access his drunk remotely so his son could grab what he needs.
Other use cases can be seen within the “gig economy.” Over the last few years, the gig economy has seen significant growth with people wanting to work their own hours. IOTA Access has the opportunity to revolutionize the gig economy in the foreseeable future. IOTA lays out a scenario where a person has a car that they would like to rent out when they are out of town. With a connected vehicle, the software would help this come to fruition.
IOTA describes an example where an individual leaves their car at the airport prior to boarding. Later that day, somebody else gets off a plane and needs a vehicle for the day. Without any middle man or centralized party, IOTA Access could be configured to allow the car owner to lend out their car for the day. The owner of the car would determine the price based on the consumers needs. Additionally, granting access to the car would be powered through IOTA Access, meaning car keys are no longer an issue…
As discussed above, the opportunities and use cases for IA are endless. With the software having the ability to power anything from small tasks to large facilities, it is expected to work with even more corporations moving forward. With flexibility, security, and low complexity of integration, the software has the potential to fuel the global shift into a new digital economy.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice.