Will IOTA be the basic tech layer for a whole continent? What the final EBSI really means and major updates
- As per the new development, TradeMarkAfrica will leverage IOTA as the base layer for streamlining the supply chain across the entire African continent.
- The IOTA team is currently focused on building the infrastructure for IOTA 2.0, the “relaunch of IOTA’ as well as finalizing the GoShimmer testnet.
The IOTA Foundation has been successful over the years in pushing forward its blockchain solutions across governments, corporates, and other institutions. The key features of the IOTA blockchain such as immutability, transparency, and secure data transfers have been the pillars of several collaborative projects.
As per the latest development in the market, the IOTA blockchain network will be at the heart of facilitating supply chain systems for TradeMarkAfrica. TMA is a not-for-profit organization that seeks to bring prosperity to the African continent through trade.
The IOTA blockchain has been a go-to platform for building transparent and secure supply chain systems. TradeMarkAfrica seeks to leverage this distributed ledger technology thus building effective trade solutions in the entire African continent.
This step of including the IOTA blockchain as the basic tech layer for the entire continent will ultimately lead to its greater adoption. Crypto and blockchain entrepreneur IOTerry shared the news noting that this could be the “start of the global standard”.
An entire continent using #IOTA as the rails for supply chain documents is as close to real world adoption as you will find anywhere. Add the EBSI announcement and my gut says this could be the start of a global standard.
— IOTerry 🦋 (@io_terry) January 28, 2023
IOTA and EBSI
The European Blockchain Services Infrastructure (EBSI) has also been closely associated with IOTA Blockchain while leveraging the distributed ledger across the European Economic Area. Last week, The IOTA Foundation entered into Phase 2B for the European Blockchain Pre-Commercial Procurement (PCP).
Here, EBSI will work as the infrastructure platform while enabling the flow of verified information among, individuals, enterprises, and institutions across the European Economic Area. EBSI came into existence back in 2019, established by the European Blockchain Partnership.
The goal of EBSI is to push blockchain services across Europe and enhance cross-border mobility, enforcing compliance with EU regulations. It will also be responsible for reducing the wastage of resources while encouraging the growth of tech hubs and projects to make digital services more trustworthy.
More Updates on IOTA Development
As the IOTA Blockchain continues to form key partnerships, the team is working on some crucial developments for the Shimmer Network and IOTA 2.0. ShimmerNet’s lead contributor Dominik Schiener recently noted that they are focused on building up and growing Shimmer into a successful Defi ecosystem that can compete with the likes of Fantom and others.
Additionally, they are also focused on building the infrastructure for IOTA 2.0, the “relaunch of IOTA’ as well as finalizing the GoShimmer testnet. The IOTA 2.0 architecture has significantly laid out and explained the improved tokenomics of IOTA along with clear messaging around it. Schiener added that for the next six months, the team will put a clear focus on these matters.
He also believes that once IOTA 2.0 is up and ready, the platform can easily surpass the likes of Cosmos and DOT.
#IOTA community, now is the time for patience and optimism. We have been through a lot. However, once the wheels are set in motion, I don’t see why we can’t rise and surpass the likes of #DOT. What has it achieved to date?
2023. The birth of #Shimmer ✨🪴 pic.twitter.com/glVPuwSkIs
— IOTAPoet ✨ (@IotaPoet) January 29, 2023
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