IOTA Expands Its Reach in the EU with Strategic Partnerships

IOTA’s Mission for Mass Adoption

IOTA, a leading open-source distributed ledger technology, continues to form significant strategic partnerships within the European Union (EU). This collaboration is part of IOTA’s mission to drive real utility and secure mass global adoption.

IOTA’s New Partnership in the EU

Popular angel investor @Walknonthemoon highlighted IOTA’s collaborations in the EU on social media. According to them, IOTA will support EU and UK-backed trade lanes using its technology.

IOTA aims to digitize transport-related activities between EU countries and the UK. Its protocol technology will streamline freight management and provide users with important shipment updates.

IOTA will also facilitate real-time data sharing among trading partners and lower administrative costs. This aligns with IOTA’s vision of bringing real-world applications on-chain.

In a recent report, IOTA launched the Trade and Logistics Information Pipeline (TLIP), a digital infrastructure designed to revolutionize trade. The platform enables trading partners to share real-time data, thereby cutting administrative costs. TLIP has been instrumental in enhancing post-Brexit UK-EU trade, saving thousands of hours previously lost to inefficiencies.

Focus on Sustainability

IOTA’s partnership with the EU will include initiatives to power sustainable energy rewards in the Netherlands, solidifying its role as a leader in sustainability-related solutions. Every project that IOTA engages in integrates an outlook toward sustainability within its core technological development.

Last year, IOTA introduced its Electronics Digital Product Passport (DPP) prototype to improve transparency and traceability throughout the lifecycle of electronic devices. This effort showcases IOTA’s commitment to integrating blockchain technology into environmental sustainability initiatives.

Furthermore, IOTA is spearheading on-chain Know-Your-Customer (KYC) verification solutions for the EU. By collaborating with firms like walt.id, IDnow, Bloom Wallet, and Spyce5, IOTA aims to provide significant cost savings for European banks, fostering a more sustainable banking ecosystem in Europe.

IOTA Rebased on the Horizon

The mainnet launch of the IOTA Rebased Protocol is imminent. This update represents a pivotal evolution for IOTA, enhancing scalability, programmability, and decentralization.

With the updated protocol, IOTA aims to achieve over 50,000 transactions per second and finalization times under 500 milliseconds. Before the mainnet launch, the IOTA Rebased test network has recently onboarded a new group of trusted validators to ensure enterprise-grade validation.

Additionally, IOTA has introduced transaction fees to Rebased, aimed at simplifying tokenomics.