• IOTA, a cryptocurrency start-up leveraging blockchain technology and IoT (Internet of Things), has been chosen to take part in the next stage of testing and development for an initiative that aims to enhance pan-European blockchain services through a distributed ledger system.
• The project, known as European Blockchain Pre-Commercial Procurement (PCP), seeks to investigate the feasibility of utilizing blockchain technology to both improve current applications and develop new ones for the European Blockchain Services Infrastructure (EBSI).
• The goals of the EBSI include promoting cross-border mobility, reducing waste, ensuring compliance with E.U. regulations, fostering the growth of technology hubs and projects, and making digital services more reliable and trustworthy.
The European Union recently selected IOTA, a cryptocurrency start-up leveraging blockchain technology and IoT (Internet of Things), to take part in the next stage of testing and development for an initiative that aims to enhance pan-European blockchain services through a distributed ledger system. This project, known as European Blockchain Pre-Commercial Procurement (PCP), seeks to investigate the feasibility of utilizing blockchain technology to both improve current applications and develop new ones for the European Blockchain Services Infrastructure (EBSI).
The goals of the EBSI are ambitious, seeking to promote cross-border mobility, reduce waste, ensure compliance with E.U. regulations, foster the growth of technology hubs and projects, and make digital services more reliable and trustworthy. The selection of IOTA to take part in the PCP is a testament to the company’s commitment to these goals and its ability to implement distributed ledger technology in the European market. As Dominik Schiener, co-founder and chairman of the IOTA Foundation, puts it: “The IOTA technology already shares the same core values with EBSI, so we have felt it has been a very 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.”
The European Union is clearly investing heavily in the potential of blockchain technology and IOTA is proud to be a part of this important endeavor. With the selection of IOTA, the European Union is taking a major step towards the development of a more efficient and secure digital infrastructure that can benefit all citizens of Europe.