With crypto prices hitting new lows by the day, it is easy for an investor to lose hope and quit. However, such a decision would be short-sighted and not cognizant of the capabilities of decentralized technologies to transform society.
Anyone keen enough on technology knows that the world is trending more towards automation. Robotics are becoming a reality in all spheres of human life, from home appliances to manufacturing. Even driverless cars are increasingly becoming a reality. In fact, according to the CEO of the Nissan Renault alliance, driverless cars will be the norm in about 6 years. So how does all this fit in with blockchain technology and cryptocurrencies? Well, blockchain technology is one of the key technologies that offers the best promise in IoT. That’s because its decentralized nature makes it difficult for hackers to attack such systems, since that is the biggest threat to autonomous systems.
The Volkswagen group, one of the world’s largest auto makers in the world already seems to have arrived at the conclusion that decentralized technologies are the way to go. In a recent tweet, the Volkswagen group said something to the effect that they will integrating decentralized technologies in their systems. The tweet read as follows.
In the view of Volkswagen, blockchain technology will have a huge use-case in self-driving technology, logistics, and other solutions such as tamper-proof odometers. That’s why they are exploring a number of cryptocurrencies such as IOTA (MIOTA), Bitcoin and Ethereum.
As an investor in crypto, this should be a huge validation to hold on to your coins. That’s because such moves by the auto industry are an indicator that cryptocurrencies indeed have a use case, and are not just speculative assets. IOTA for instance, could very easily be the crypto that people will be using to fill their tanks in the future, in an automated vehicle ecosystem.
Volkswagen has already hinted at this, which means that in the future they could be making cars that support these technologies. Naturally, other car makers will follow suit in making similar vehicles, in a bid to stay competitive. This means that in a few years, IOTA could be integrated into the systems of every car on the road. This use case alone, even though there are many more, is enough to support the value of IOTA (MIOTA) going into the future. The same goes for other cryptos like Bitcoin and Ethereum, which the auto industry could use in creating high security system that are not easy to breach.
The bottom-line is that cryptocurrencies are still in their infancy, and the potential of decentralized technologies is only getting discovered. Before this use-case goes mainstream, prices will most likely remain volatile, as speculators reign supreme. But with time, things will change, adoption will take place, and fundamentals will be the key driving force to their valuations.
At that point, fundamentally strong cryptos such as bitcoin (BTC), and IOTA (MIOTA) will be trading at multiples of their current valuations. When companies like Amazon came into the picture, the masses didn’t understand them, and their values were low and volatile. Today, they are blue-chips with valuations in the 100s and 1000s of dollars.