IOTA Foundation participates in EU blockchain project EBSI

Wednesday 8 September 2021 11:04 CET | News

Germany-based open-source distributed ledger and cryptocurrency IOTA Foundation has been selected for the narrower group of projects with which an EU-wide blockchain called EBSI could be built. 

Under the name European Blockchain Services Infrastructure (EBSI), the EU member states aim to create an infrastructure that securely documents digital identities, tax data or certificates and makes them available across national borders. The IOTA Foundation prevailed among over 30 applicants in a first selection round to be one of the 7 projects with which EBSI could be put into practice.

With its Tanglenet, IOTA is able to take on tasks at EBSI, as the structure of the Tanglenet allows for free queries and actions that occur when stamping a document, for example. IOTA already has experience with pilot projects for digital identities that comply with the EU regulations on data security and digital self-determination.

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Keywords: partnership, blockchain, digital identity, data
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Germany
This article is part of category

Blockchain & Cryptocurrencies