IOTA Steps Into the Next Phase of EU Blockchain Pre-Commercial Procurement

IOTA recently finished extensive testing in phase 2A of the EU managed Pre-Commercial Procurement (PCP) blockchain, and has been selected. The IOTA Foundation is now expected to develop and test advanced ledger solutions on a larger scale. When made to perfection according to desired specifications, it can benefit from the ability to deliver blockchains service across Europe is seamless. In addition, PCP’s main goal is to actively test and analyze new blockchain technologies. Another goal is to identify whether this technology can be used in the future.

The technology may soon be actively used to enhance network capabilities as well as ESBI use cases. EBSI will later play a helping role in the smooth flow of verified information between institutions, companies, and more. ESBI was founded in 2019 to develop a distributed ledger system across multiple European communities. In addition, it hopes to support many cross-border services between different governments, businesses and individuals.

Another set of underlying goals looks to promote greater mobility, reduce wastage of resources, etc. This includes enforcing regulatory compliance as well as driving the growth of technology hubs. As a result of ESBI’s action, information will be sent across Europe quickly.

Successful Phase 2A by IOTA Foundation

According to the European Commission’s assessment, IOTA successfully carried out the task for ESBI. Including some of the tasks that IOTA is diligent about prototype development and laboratory testing. Over the last 6 months, the foundation led successful prototype versions of two use cases. These cases include digital passports for digital waste recycling and electric vehicle batteries. Apart from that, the assessment also highlighted the scalability, sustainability, security, etc. of IOTA. With all that aside, the foundation will now proceed to Phase 2B.

Phase 2B especially including final solution development and active field assessments. In this phase, the foundation hopes to complete field testing of the IOTA Stardust solution including other contracts. In addition, expansion of the use cases in Phase 2A is also possible. The chairman of the IOTA foundation, Dominik Schiener, stated that the technology used by the company is similar to ESBI. This is the reason why the process seems so simple.