- IOTA is pushing new frontlines in the EU with new partnerships.
- To bolster its push toward mass adoption, the IOTA rebased innovation is set to soar soon.
IOTA, a leading open-source distributed ledger technology, continues to form key strategic partnerships with the European Union (EU). IOTA’s collaboration in the EU is part of its broader mission to drive real utility and secure mass global adoption.
IOTA’s New Partnership in the EU
Popular Angel investor with the username @Walknonthemoon on social media platform X highlighted IOTA’s EU collaborations. According to Walknonthemoon, IOTA, through the strategic partnership will support EU and UK-backed trade lanes with its technology.
IOTA will focus on digitizing transport-related activities between the countries in the EU and the United Kingdom. The protocol’s technology will help streamline freight management and notify users of important updates about their shipments.
Image Source: Walknonthemoon on X
IOTA will also enable real-time data sharing among trading partners and reduce administrative costs. This collaboration aligns with IOTA’s vision of bringing real-world applications on-chain.
In a recent study, CNF reported that IOTA launched a digital infrastructure, the Trade and Logistics Information Pipeline (TLIP), to revolutionize trade.
The platform allows trading partners to share real-time data, reducing administrative costs. TLIP helped power the post-Brexit UK-EU trade, enhancing processes and saving thousands of hours otherwise wasted on slow and inefficient processes.
IOTA’s partnership with the EU will also focus on powering sustainable energy rewards in the Netherlands. This partnership further strengthens the network as a key player in providing sustainability-related solutions. Every project IOTA undertakes has an outlook toward sustainability which is now embedded into its core technological development.
Last year, IOTA unveiled its Electronics Digital Product Passport (DPP) prototype to enhance transparency and traceability throughout the lifecycle of electronic devices. As CNF discussed earlier, this product highlights IOTA’s push towards integrating blockchain in environmental sustainability efforts.
In addition, IOTA is leading on-chain Know-Your-Customer (KYC) verification for the EU. Through its robust solutions, IOTA aims to offer substantial cost savings for European banks. As featured in our recent coverage, the IOTA Foundation recently collaborated with walt.id, IDnow, Bloom Wallet, and Spyce5 to pioneer a groundbreaking KYC solution for Web3 applications.
The solution paves the way for a more sustainable and effective banking ecosystem in Europe.
IOTA Rebased on the Horizon
The mainnet launch of the IOTA Rebased Protocol is set to happen soon, designed to also bolster the mass adoption of the chain. The IOTA Rebased Protocol marks the most important upgrade from IOTA as it sets the network for extensive scalability, programmability, and decentralization transformation.
Through the updated protocol, IOTA plans to achieve a processing speed of more than 50,000 transactions per second and finalization times of less than 500 milliseconds. Ahead of its main net launch, the IOTA Rebased test network recently announced onboarding a new set of trusted validators. They are expected to bring trusted, enterprise-grade validation to IOTA.
Also, IOTA has announced additional transaction fees to Rebased. As explained in our last article, this initiative is expected to simplify tokenomics.
