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IOTA selected for European blockchain project

 


The development of the “European Blockchain Services Infrastructure” is entering the next phase. IOTA has made the leap into the second round. Dominik Schiener tells us why the Tangle technology could have a decisive influence on the design of the European blockchain solution.


Reducing bureaucracy, the movement of goods, decentralized identities or the Internet of Things: Blockchain technology plays a key role in digitization. Since 2018, the EU Commission has been supervising the "European Blockchain Services Infrastructure" (EBSI) project - a system for data traffic based on decentralized technologies. With the entry into development phase 2A, the European blockchain solution is gradually becoming more concrete. Leading the way: The IOTA Foundation, which could play a decisive role in shaping the EBSI with the Tangle technology.


As one of five remaining projects, IOTA made it to Phase 2A of pre-commercial procurement. This will give the IOTA Foundation additional funds to develop prototypes for future EBSI versions. Key areas of research for deploying IOTA technology are interoperability, scalability, energy efficiency, security, consensus, identity and governance.


IOTA is getting hot


The European Blockchain Services initiative aims to replace the current system, which is based on Hyperledger, with a new system that can form the backbone for many trusted cross-border European services. The system should be scalable, accessible and interoperable and offer functions such as identity and access management. IOTA's core technology meets all of these criteria and we hope to be able to contribute to a large part of the EBSI infrastructure


The phase is expected to last about six months. After completing some series of tests and prototype development, the European Commission validates the results and selects at least three projects for the subsequent phase 2B. This section will “expectedly last another year” and deal with the “final development of solutions and field tests”, as the foundation writes in a blog post. According to this, the IOTA team will “test innovations that could benefit the EBSI infrastructure” in the coming months.


Something on the agenda

It cannot be ruled out that the Tangle technology could have a decisive influence on the EBSI architecture. “The IOTA protocol and its tangle already offer full, public integration or a 'private, allowed tangle' to everyone. But private tangles can also be integrated into the public tangle,” explains Schiener. According to this, “using the public IOTA Tangle would enable access and interoperability beyond the permitted actors and enable EBSI to interact with external actors”.



At the same time, the IOTA team is still working flat out on Coordicide - the 2.0 network environment without a central control instance. The work on it will not be delayed by participating in the next EBSI development phase, assures Schiener: “Most of our technical roadmap corresponds directly to the requirements of the EBSI. The team is aware of this roadmap and our offerings reflect the anticipated timelines of upcoming developments.” 2022 promises to be an extremely exciting year for IOTA.

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