IOTA Foundation has completed the mandatory tests in phase 2A of the EU Blockchain Pre-Commercial and qualified for the next phase.
About EU Blockchain PCP
The EU Blockchain PCP was established to develop the network capacities of the European blockchain services infrastructure (EBSI), improve its utilization and test new blockchain technologies for future deployment.
About EBSI
EBSI was established in 2019 by the Europen blockchain partnership. They aim to support cross-border services for governments, individuals, and businesses by developing a distributed ledger network. The board’s future goals include improving cross-border mobility, reducing the waste of resources, ensuring compliance with EU regulations, making digital services more reliable, and stimulating the growth of projects.
IOTA Foundation Enters Next Phase
The company had to complete the mandatory testing in stage 2A of EBSI before the selection phase. After successfully completing the mandatory “Prototype Development and Lab Testing” in phase 2A, IOTA was eligible to proceed to the next phase, phase 2B. Dominik Schiener, Co-Founder and Chairman of the IOTA Foundation, said:
“I am proud of the work the IOTA team has put together over the last six months and excited for us to be selected for the next phase of this exciting project. Bringing distributed ledger technology to the European market is something we are passionate about. The IOTA technology already shares the same core values with EBSI, so we have felt it has been a very natural fit throughout this testing process. We are very confident in our ability to bring distributed ledger technology to the European market and look forward to the next phase.”
In phase 2B, the firm is required to complete “Final Solution Development and Field Testing” and test EBSI 1.0 compliance.
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