IOTA Enters Phase 2B of European Blockchain Pre-commercial Procurement

IOTA, a distributed ledger technology (DLT) for the Internet of Things (IoT), has been selected for the final phase of the European Union’s (EU) blockchain pre-commercial procurement (PCP) exercise. The PCP is a program that aims to develop and test innovative blockchain solutions for the public sector.

IOTA was selected alongside two other contractors, ChromaWay and Billion. The three companies will now work together to further develop and test their solutions, with the goal of delivering a more scalable, secure, and interoperable blockchain infrastructure for the EU.

IOTA is well-positioned to succeed in the PCP program. The company has a strong track record of developing innovative blockchain solutions, and its Tangle protocol is designed to be more scalable and efficient than traditional blockchains. IOTA is also committed to data sovereignty and green credentials, which are important values for the EU.

The selection of IOTA for the final phase of the PCP is a major milestone for the company. It demonstrates the EU’s confidence in IOTA’s technology, and it could lead to significant adoption of IOTA in the public sector.

Here are some of the key benefits of IOTA that made it a strong candidate for the PCP program:

• Scalability: IOTA’s Tangle protocol is designed to be more scalable than traditional blockchains, making it suitable for high-volume applications.
• Security: IOTA uses a unique consensus mechanism that is resistant to attack.
• Interoperable: IOTA is designed to be interoperable with other blockchains, making it a good choice for cross-border applications.
• Data sovereignty: IOTA is committed to data sovereignty, meaning that users have control over their own data.
• Green credentials: IOTA’s Tangle protocol is more energy-efficient than traditional blockchains.

The selection of IOTA for the final phase of the PCP is a major step forward for the company. It demonstrates the EU’s confidence in IOTA’s technology, and it could lead to significant adoption of IOTA in the public sector.