European Commission for the next phase of the European Blockchain Pre-Commercial Procurement Project (PCP) IOTA (MIOTA) altcoin He chose his foundation.
IOTA Altcoin Selected for Next Phase of European Union Blockchain Services Infrastructure
The purpose of PCP is to introduce new technologies that could potentially be used in the future to improve the network capacities and use cases of the European Blockchain Services Infrastructure (EBSI). cryptocurrency and to determine whether blockchain technologies can be developed and tested.
EBSI will enable verified information to circulate among institutions, businesses and individuals across the European Economic Area.
Founded by the European Blockchain Partnership in 2019, EBSI aims to develop a distributed ledger network across Europe to support cross-border services between governments, businesses and individuals.
Its goals are to increase cross-border mobility, reduce waste of resources, comply with EU regulations, and stimulate the growth of technology centers and projects while making digital services more reliable.
According to the assessment made by the European Commission, the IOTA Foundation was successful in fulfilling EBSI’s Phase 2A “Prototype Development and Laboratory Testing” tasks.
Over the past six months, the IOTA Foundation has piloted the first prototype versions of two use cases: Digital Product Passports for digital waste recycling and electric vehicle batteries, and cross-border management of Intellectual Property Rights for creative work.
The assessment also reviewed IOTA’s efficiency, scalability, sustainability, security, technical maturity and commercial viability, and the Foundation will now move into the “Final Solution Development and Field Testing” Phase 2D.
Dominik Schiener, Co-Founder and President of the IOTA Foundation, said in his statement:
“I’m proud of the work the IOTA team has put in over the last six months and I’m excited to have been selected for the next phase of this exciting project. Bringing distributed ledger technology to the European market is something we are passionate about.
IOTA technology already shares the same core values as EBSI, so we felt a pretty natural fit throughout this testing process. We are very confident in our ability to bring distributed ledger technology to the European market and look forward to the next phase.”
*Not investment advice.
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