Official Press Release

Volkswagen’s Chief Digital Officer Joins IOTA Foundation’s Supervisory Board

Chief Digital Officer of Volkswagen, Johann Jungwirth, joins the Supervisory Board of the IOTA Foundation - one of the largest cryptocurrencies in the world, to oversee the Foundation’s annual roadmap and advise on future collaboration between IOTA and Volkswagen

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Stuttgart, Germany, January 22, 2018 – The IOTA Foundation, an open-source non-profit foundation from Germany, is today announcing that Chief Digital Officer of Volkswagen, Johann Jungwirth, is joining the Foundation’s Supervisory Board. The news follows the recent joining of Dr. Hongquan Jiang, Partner at Robert Robert Bosch Venture Capital to the IOTA Foundation Advisory Board.

Johann Jungwirth is the first C-level executive to join the Foundation’s Supervisory Board for the next five years. The Supervisory Board is largely independent and meets regularly to approve annual budgets and roadmaps, rules of procedures, and oversees the IOTA Foundation’s Board of Directors.

Jungwirth has been the designated Chief Digital Officer at Volkswagen since November 2015 where he has been responsible for driving the digital transformation of Volkswagen Group’s 12 brands which include Porsche, Audi, Bentley, Buggatti, Lamborghini, and more. Prior to Volkswagen, Jungwirth was Director of Mac Systems Engineering at Apple and before that was President and CEO of Mercedez-Benz Research and Development branch of North America.

With Jungwirth’s broad expertise and vision of the future of mobility, the IOTA Foundation hopes to work even faster to bring the technology to market and enable new business models and applications for the Internet of Things and beyond. Further collaborations between IOTA and Volkswagen are going to be announced over the coming weeks.

IOTA, which is the first distributed ledger technology to go beyond a Blockchain, enables machines to securely transact data and money with each other. This is the stepping stone to a new innovative Internet of Things based applications and business models for mobility, energy, Industry 4.0 and more. The IOTA technology has already enabled payments worth billions of dollars to be transacted without fees, and has been utilized for use cases including transparent value chains in logistics, secure Over-the-Air Updates and feeless micropayment-based for electric vehicle charging, parking and more.

“IOTA has the potential to set a standard for trusted machine-to-machine transactions,” said Johann Jungwirth, CDO of the Volkswagen Group. “With its brilliant technology, it’s no question why mobility and technology companies as well as other key players in the industry are joining the Foundation. I’m delighted to join the team and be a part of where IOTA is headed in the future.”

“We are thrilled to have Johann join our Supervisory Board,” said David Sønstebø, Co-founder of the IOTA Foundation. “Having a visionary like Johann on board is pivotal for IOTA’s ambition to become a global standard that enables real-world use cases.”

“Besides his impressive professional background, Johann offers incredible insight and strategy in making IOTA and the Foundation become a reality and have an impact on society,” said Dominik Scheiner, Co-founder of the IOTA Foundation. “We are very excited to welcome JJ on board and are looking forward to what our collaboration will bring to the broader ecosystem.”

About

About IOTA

The IOTA Foundation is a non-profit organization headquartered in Berlin, Germany that coordinates and funds the development of the IOTA ecosystem. It is the first non-profit organization in Germany approved by the government focused on distributed ledger technology.

See link: www.iota.org

Leadership

David Sønstebø, IOTA Co-Founder
Dominik Schiener, Co-Founder

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