Bosch Auto Parts is getting deeper into IOT and crypto all at once | Thinknum Media
The top auto-parts manufacturer in the world — according to the June 26, 2017 issue of Automotive News — is Bosch Auto Parts($BOSCH). Most cars sold today have a Bosch part somewhere in them and the company saw €78.1 billion in revenue just last year. The German-based company is also a supplier of numerous other products including technology, appliances and power tools.
Bosch was founded in 1886. The company hasn’t excelled for over 125 years by remaining idle: research and development is a big part of its strategy with a budget of €7.3 billion on R&D alone.
That timeframe is especially significant because on Oct. 17, 2017, it was announced that Bosch had partnered with a top 10-crypto currency (by market cap) called IOTA. IOTA is a Tangle-based crypto currency with the goal of being the default protocol between all devices in the Internet of things (IOT). The release explained:
If we take a look at the hiring plans for IOT positons at Bosch there was a sharp increase in jobs related to Internet of Things last fall.