- IOTA promotes digital innovation in the EU and forms a major basis for growth.
- The protocol also plans to expand Africa’s blockchain innovation through IOTA Revased.
Crypto Trader and analyst Merlijn recently highlighted the collaboration between the open source, distributed platform IOTA and the European Commission. Analysts say the partnership is bolstering the future of regulated cryptography in Europe.
European relations with Iota
Merlin It’s attracting attention This collaboration will help promote the adoption of real-world cryptography in Europe. He added that Europe supports IOTA Web3 ID and digital product passports.
In particular, IOTA’s digital Web3 ID wallet is designed for electronic signatures and storage, from train tickets to university diplomas. It is considered the next evolution of the lives and work of European citizens.
This collaboration occurs when the EU tries to implement a digital identity scheme. Last year, we updated our European Digital ID (EUDI) regulations. This requires a full implementation by 2026.
Meanwhile, the IOTA Foundation recently introduced digital passports. In the previous article, we Discussed This product must be part of the work of the Foundation for Pre-Profit Procurement before the European Blockchain, funded by the European Commission.
The IOTA Foundation has designed the Digital Product Passport as a data sharing system that supports product cyclicity. Research shows that this is done by sharing relevant information in the supply chain, while avoiding unnecessary disclosure. Interestingly, this product is useful in a military environment and increases interoperability across procurement, maintenance and logistics functions.
IOTA driving transformation in Europe
IOTA Blockchain is at the forefront of the EU blockchain revolution and is building cutting-edge solutions for businesses operating in the region.
Recently IOTA announcement New Knowledge of Customer (KYC) Solutions for Enhanced Safety and Security within the Decentralized Finance (DEFI) ecosystem (KYC) Solutions. This system allows users to authenticate their identity without disclosing their personal information, reducing the risk of identity theft and fraud.
IOTA plans to promote sustainable energy rewards in the Netherlands through its partnership with the EU. This partnership further strengthens our network as a key player providing sustainability-related solutions. IOTA usually assumes projects with sustainability prospects. This is now embedded in its core technology development.
Iota is like that throughout Africa reading A revolution in the blockchain industry with its latest project, Iota Rebased. The initiative aims to enhance decentralization and support the development of African blockchain technology.
