- IOTA is expanding its adoption in the EU through strategic partnerships, enhancing trade efficiency, sustainability, and compliance solutions.
- With the upcoming IOTA Rebased Protocol, the network is set to achieve greater scalability and decentralization.
IOTA, a pioneering open-source distributed ledger technology is gaining significant traction as it expands its footprint in the European Union. This comes as it continues to forge significant partnerships aimed at enhancing efficiency, sustainability, and regulatory compliance.
It is worth mentioning that these collaborations are part of IOTA’s mission to drive real-world utility adoption a notch higher as it revolutionizes multiple sectors with its innovative solutions.
As per details offered via the X platform by renowned angel investor @Walknonthemoon, IOTA’s EU collaborations aim to digitize the trade lanes between countries of the EU and the UK, with this significant collaboration, IOTA’s innovative technology targets to refine transport-related management, provide real-time shipment updates, and facilitate seamless data sharing among trading partners.
This initiative aims to significantly reduce administrative costs and enhance the efficiency of cross-border trade. Notably, IOTA’s Trade and Logistics Information Pipeline (TLIP) has already demonstrated its potential by revolutionizing post-Brexit UK-EU trade, saving countless hours previously lost to inefficient processes.
It is worth mentioning that IOTA’s TLIP has also made a massive feature in Africa with collaborations, including the Africa Customs & Trade, the World Customs Organization, the Rwandan Ministry of Trade & Industry, and the Kenya Ports Authority. This collaboration will play a significant role in transforming the African trade landscape.
Beyond Trade, sustainability has been at the forefront of every innovative move IOTA makes. Its partnerships extend to powering sustainable energy rewards in the Netherlands, which will definitely solidify its role as a provider of eco-friendly solutions.
IOTA’s commitment to sustainability is deeply enrooted in its technological development, as evidenced by its Electronics Digital Product Passport (DPP) prototype. This initiative enhances transparency and traceability throughout the lifecycle of electronic devices.
Furthermore, IOTA is at the forefront of on-chain Know-Your-Customer (KYC) verification for the EU. By offering robust and cost-effective solutions, IOTA aims to transform the European banking ecosystem.
Notably, its recent collaboration with walt.id, IDnow, Bloom Wallet, and Spyce5 to develop an innovative KYC solution for Web3 applications greatly showcases its dedication to creating a more secure and efficient financial landscape.
This initiative promises substantial cost savings for European banks while fostering a more sustainable and effective banking ecosystem.
IOTA Rebased Set for Release
Adding to the glad tidings, is the imminent mainnet launch of the IOTA Rebased Protocol. This significant upgrade is designed to propel IOTA toward great user adoption by enhancing scalability, programmability, and decentralization.
The IOTA Rebased platform is strengthening its reliability and security by welcoming new trusted validators to its test network. In addition to this, it aims to achieve processing speeds exceeding 50,000 transactions per second and finalization times under 500 milliseconds, ensuring a robust and high-performance environment for various applications.
Moreover, the introduction of transaction fees in IOTA Rebased is expected to simplify tokenomics, making the platform more accessible and user-friendly. These advancements, combined with IOTA’s strategic EU partnerships, position the technology for significant growth and widespread adoption.
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