Join Our Mailing List
Thursday June 08, 2023
Bitcoin (BTC) $26,377.07   Ethereum (ETH) $1,835.56
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Blockchain Technology

IOTA selected to participate in the European Blockchain Services Infrastructure (EBSI) network

The IOTA Foundation’s distributed ledger technology is competing to enable fully digitized cross-border e-government services for citizens and enterprises in Europe...

Published by CryptoNinjas.net
09/07/2021
IOTA selected to participate in the European Blockchain Services Infrastructure (EBSI) network

The IOTA Foundation, the non-profit supporting the research and development of new distributed ledger technologies (DLT), including the IOTA Tangle, announced today it been selected to participate in the pre-commercial procurement process for the European Blockchain Services Infrastructure (EBSI), a network of blockchain nodes across the European Union (EU).

Established in 2019 by the European Blockchain Partnership, the EBSI aims to develop a distributed ledger network across the European community to support cross-border services between governments, businesses, and individuals. Its goals are to enhance cross-border mobility, reduce waste of resources, enforce compliance with EU regulations, and encourage the growth of tech hubs and projects. Thanks to EBSI, verified information will flow quickly and reliably Europe-wide.

The EBSI network’s nodes will be run on both by the European Commission and by individual member states. Current and planned use cases include the digital management of educational credentials, the establishment of trusted digital audit trails in notarization, SME financing, data sharing among authorities, and European digital identity. After initial implementation in the EU, the technology will also have the potential to extend beyond the 27 member states.

IOTA is well-positioned to enable EBSI’s vision of secure ledger-based transactions for an EU digital single market. IOTA’s technology fits EBSI’s goals of being scalable, open, decentralized, and interoperable. Permissionless by nature, yet IOTA can grant permission to some resources and control data distribution to ensure EU data-sharing compliance. It also supports high throughput and a large number of nodes.

In addition, IOTA’s feeless nature makes micropayments possible and opens up the network to a broad audience. Anyone can afford to use it, whereas the cost of transactions on other blockchains makes notarizing small information exchanges, such as the cost of stamping a single document, prohibitive. IOTA is also energy-efficient and complements the EU’s aim of making Europe carbon-neutral by 2050.

“We are very excited about moving forward in the rigorous EBSI procurement process, and we feel great about our chances to play a central role in bringing distributed ledger technology to European administrations. EBSI is an excellent fit, both technologically and ideologically. We do not need to adapt an existing blockchain or to start developing a new solution that fits EBSI’s needs. Our core technology already offers a near-perfect match to the strict requirements and precise specifications for a European ledger infrastructure, and it is ready for widespread adoption with only minimal adjustment.”
– Dominik Schiener, Co-Founder & Chairman of the IOTA Foundation

Since 2018, 29 countries (All EU Member States, Norway, and Lichtenstein) and the European Commission have joined forces to form the European Blockchain Partnership (EBP). They have committed to working together towards realizing the potential of blockchain-based services for the benefit of citizens, society, and the economy.
195
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram
Source: IOTA.org

Related News

IOTA community approves DAO vote to expand community governance

06/13/2022
IOTA community approves DAO vote to expand community governance

IOTA, one of the largest crypto ecosystems, announced today its community’s approval of the establishment of a community-owned decentralized autonomous organization (DAO). Starting Monday, June 13, and following a 17-day voting process, community members...

Read more

DLT network IOTA introduces staking to all IOTA token holders

11/16/2021
IOTA is introducing staking to all IOTA token holders

IOTA, a feeless distributed ledger (DLT) network, today announced the introduction of IOTA staking. Expanding the token utility of IOTA will offer new opportunities to token holders to be rewarded for their participation in...

Read more

Crypto Finance Group supports IOTA Chrysalis upgrade

04/27/2021
Crypto Finance Group supports IOTA Chrysalis upgrade

Crypto Finance Group, a FINMA-licenced firm providing crypto brokerage services, secure storage infrastructure, and tokenization solutions, has announced the successful upgrade of its secure storage infrastructure with IOTA Chrysalis. This latest upgrade includes the...

Read more

IOTA now enterprise-ready as Chrysalis Phase 2 launches on mainnet

04/21/2021
IOTA now enterprise-ready as Chrysalis Phase 2 launches on mainnet

IOTA Foundation, a non-profit building the digital infrastructure to enable the machine economy and IoT, is today completing the most extensive network upgrade in its history, titled Chrysalis. This moves IOTA out of the...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
Token.io launches new spin-out company focused on digital money solutions

Token.io launches new spin-out company focused on digital money solutions

12/10/2019
Maya Preferred 223 (MAPR) token debuts on FatBTC

Maya Preferred 223 (MAPR) token debuts on FatBTC

03/19/2019
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
The Sandbox teams with Hex Trust to enable licensed and secure custody of its virtual assets

The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets

05/10/2023
CoinFlip launches new self-custodial cryptocurrency wallet platform 'Olliv'

CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’

04/28/2023
Crypto exchange Deribit to launch zero-fee spot trading

Crypto derivatives exchange Deribit to launch zero-fee spot trading

04/20/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy