The European Union has chosen IOTA as one of seven blockchain businesses to offer the European Blockchain Services Infrastructure. It is a resounding vote of confidence in IOTA’s distributed ledger technologies (EBSI).
Entrusting IOTA’s distributed ledger technologies. The European Union picks it as one of seven blockchain companies to provide the European Blockchain Services Infrastructure (EBSI).
Enabling the creation of digital management systems for educational degrees, providing notaries with fraud-proof digital audit trails, improving data sharing between authorities, providing startup funding, and laying the foundation for an EU digital ID.
During the tender process, the IOTA Foundation received a lot of positive feedback.
Indeed, the EBSI specified that the chosen blockchains must provide a highly scalable, open-source, fully decentralized, and completely interoperable solution. That’s a tall order.
Furthermore, the IOTA network’s high speed, the number of nodes, and permissionless nature earn it respect.
The concept put forward by IOTA, however, was able to capture the attention of Brussels bureaucrats. And secure the bid due to its excellent energy-saving efficiency and feeless transactions.
It will be comparable to the work Hoskinson’s Cardano Foundation does in Ethiopia. Where governments are increasingly using blockchain technology.
Education Records Blockchain to release
The IOHK team is releasing an education records blockchain this year. As well as a digital national ID system is in the works.
Truly, IOTA’s board members appear to overjoy the successful tender offer.
IOTA Foundation Deputy Chairman Dr. Navin Ramachandran praised the proposal as a fascinating real-world use case for IOTA.
He stated that EBSI is a project that is completely in line with the IOTA concept and mission. As well as navigating the difficult procurement process is a pleasant and interesting experience.
He went on to remark that an open-access, scalable, and versatile distributed ledger system is a perfect fit with our own ideals.
And Dr. Serguei Popov, co-founder of IOTA, emphasized the project’s enormity as the company works to bring digital decentralization to Africa.
However, assembling a blockchain network of global proportions is ambitious and technically challenging, he added.
Thus, the EU is taking a giant step toward achieving its digitalization goal. And we feel excited to be able to contribute our production-ready technology to this historic milestone that will transform how reliable information is exchanged across Europe and beyond.
