IOTA Foundation becomes one of seven enterprises to support the EU blockchain project

IOTA Foundation becomes one of seven enterprises to support the EU blockchain project
фото показано с : invezz.com

2021-9-9 14:21

As the crypto and blockchain adoption continues to progress, the European Commission decided to start its blockchain initiative that will result in an EU-wide DLT platform. However, the Commission decided to hire a number of projects and companies that will work on developing the platform and making it operational.

One of the seven projects turned out to be the Iota Foundation, a non-profit organization that developed its open-source DLT platform called Tangle. The Foundation will support the European Blockchain Services Infrastructure (EBSI), and help with making it cross-border and connected to governments, businesses, and citizens of various European countries.

The platform is meant to be used for the digital management of educational credentials, establishment of trusted digital audit trails, as well as things like document traceability, data sharing among authorities, SME finances, digital identification, and alike.

The network itself will consist of nodes dedicated to conducting EU-centric transactions, expanding the EU supply chain by adopting emerging technologies, and reducing the European carbon footprint. The nodes will be managed by the European Commission itself, with a 27-member EU jurisdiction. Individual members of the European Blockchain Partnership in individual regions will also participate.

The competition for the best developer is about to start

Interestingly, the Iota Foundation was chosen alongside six others from a total of 30 different candidates who applied for the role in November 2020. After receiving the EBSI approval, the project is preparing to start a two-year pilot scheme, with a grant of 6.2 million EUR dedicated to the seven applications.

Over the next two years, the participants will go through rigorous testing across different applications, and the ones that fail the tests or prove inefficient enough will be eliminated, with only two projects remaining for the final round.

The project that successfully completes all phases over the next two years will receive a service fee of 1.6 million EUR, and it will be the sole project to work on the EU Commission’s DLT infrastructure and eventually deliver it.

The post IOTA Foundation becomes one of seven enterprises to support the EU blockchain project appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Performance Blockchain (HPB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0064459
Капитализация $0 Rank 99999
Цена в час новости $ 0.0910131 (-100%)

blockchain platform commission decided however hire foundation

blockchain platform → Результатов: 126


Фото:

Best Proof-of-Stake Tokens worth your investment: Elrond, Algorand Cosmos

Elrond EGLD/USD is a scalable, fast, and secure blockchain platform for distributed applications that incentivizes a distributed network of computers to run a smart contracts platform. Algorand ALGO/USD is a decentralized blockchain technology network that establishes decentralization and transactions without a central authority.

2021-11-12 16:52


Фото:

What If One Multifunctional Blockchain Could Do It All?

Over the years that blockchain has evolved, different platforms have found their niche in various use cases, often based more on their limitations than their strengths. For example, as the world’s first smart contract platform, Ethereum gained a lot of early traction but most recently has become known as the hub for decentralized finance applications. […]

2020-10-26 14:12


Forte signs up 5 new game developer partners to integrate its blockchain platform

Forte, the builder of a blockchain platform for games, today announced Hi-Rez Studios, Netmarble, Magmic, nWay, and DECA Games as its next set of game developer partners. Each company will be integrating Forte’s open and easy-to-use blockchain platform into one of its games, unlocking new economic and creative opportunities for both the developers and their […] CryptoNinjas: Forte signs up 5 new game developer partners to integrate its blockchain platform

2020-3-25 19:26


Фото:

Ontology (ONT) Inks Partnership Deal with Blocery to Enable Decentralized Shopping

Ontology (ONT) a blockchain project that claims to be dedicated to creating a high-performance public blockchain and a distributed trust collaboration platform, has partnered with Blocery, high-end agricultural products and grocery pre-purchase e-commerce platform, to enable the masses to easily purchase groceries with the latter’s decentralized application (dApp), according to a blog post on NovemberRead MoreRead More.

2019-11-9 00:00


U.S. National Association Of Realtors (NAR) Invests In Propy Blockchain Platform

National Association Of Realtors Invests In Propy Blockchain Platform Blockchain technology is emerging in multiple industries, and real estate is starting to see its worth even more vividly. According to reports from Forbes on June 10th, a real estate platform named Propy has received an investment from the National Association of Realtors (NAR), by way […]

2019-6-11 00:09


New GBR Blockchain Rose Platform to Launch, Aims at Spreading Digital Emotion and Love

While the blockchain industry is exploring ways to expand its use case, some of the uses may be completely unexpected, like an emotional blockchain platform. However, this is already a reality as the US Glasgow Emotional Research Foundation is launching the world’s first blockchain rose (value) cultivation game platform, As roses are important in expressing […]

2019-5-22 03:05


Фото:

PR: BitCanna – Dutch Blockchain Startup Launching a Revolutionary Cannabis Platform

Leading global cannabis brands are ready to go cashless and take advantage of all the opportunities offered by the BitCanna blockchain platform AMSTERDAM, October 31, 2018 - With the current exponential growth of both the global cannabis industry and blockchain technology, there is a potential partnership that stands to benefit both.

2018-10-31 12:30