• IOTA, a cryptocurrency start-up leveraging blockchain technology and IoT, has been chosen to take part in the next stage of testing and development for the European Blockchain Pre-Commercial Procurement.
• The purpose of the project is to investigate the feasibility of utilizing blockchain technology to improve current applications and develop new ones for the European Blockchain Services Infrastructure (EBSI).
• The goals of the EBSI include promoting cross-border mobility, reducing waste, ensuring compliance with E.U. regulations, fostering the growth of technology hubs and projects, and making digital services more reliable and trustworthy.

The European Union has selected IOTA, a cryptocurrency start-up leveraging blockchain technology and the Internet of Things (IoT), to take part in the next phase of their European Blockchain Pre-Commercial Procurement (PCP) project. This initiative is a collaborative effort between the European Commission and the European Blockchain Services Infrastructure (EBSI) to test and develop novel blockchain technology.

IOTA was chosen to take part in the next stage of testing and development due to their experience and expertise in the blockchain field. They have embraced the same core values as the EBSI, which has made them a natural fit for the project. The goal of the project is to investigate the feasibility of utilizing blockchain technology to both improve current applications and develop new ones for the EBSI.

The EBSI is an ambitious project that seeks to enhance pan-European blockchain services through a distributed ledger system. It has several goals, including promoting cross-border mobility, reducing waste, ensuring compliance with E.U. regulations, fostering the growth of technology hubs and projects, and making digital services more reliable and trustworthy.

IOTA believes that this project will not only benefit the European Union, but also the entire blockchain industry. Dominik Schiener, co-founder and chairman of the IOTA Foundation, said, “We are very confident in our ability to bring distributed ledger technology to the European market and look forward to the next phase.”

The European Commission and the EBSI will now work with IOTA to test and develop blockchain technology in order to improve current applications and create new ones. This is an exciting step forward for the blockchain industry, as it will help to bring the technology to a wider audience and promote its use in the public sector.