The European Blockchain Services Infrastructure (EBSI) is going to be the blockchain for Europe. It is focusing on digitization of public services across the European Union by developing a network of blockchain nodes across Europe. In order to execute the vision of European Blockchain Services Infrastructure (EBSI), the IOTA Foundation has been selected as one of the few contractors for designing innovative DLT solutions, for enabling pan-European blockchain services.
Blockchain network will be used for managing digital identification, educational credentials, audit trails, SME financing, data sharing among authorities, document traceability etc. At European level, network nodes will be run by the European Commission, and on a national level, it will be run by member countries. The network of nodes across Europe will support transactions between governments, enterprises, and citizens and will help in achieving the objectives of EU by enabling the mobility of citizens, goods and services transactions, supporting technological projects and creating tech hubs.
EBSI has partnered with IOTA due to its nature of being scalable, interoperable, open, decentralized and permissionless, along with its ability to support permissioned environments for complying with the stringent European data protection rules as well as supporting each member state, for running its own set of nodes. IOTA is feeless and scalable distributed ledger supporting frictionless data and value transfer.
Virtual Currency are becoming strategic and imperative in operation of public infrastructure, and providing solutions to the communities in dealing with the challenges surrounding modern world. Adoption of blockchain technologies and promotion of digital currencies will have far reaching Geopolitical and Geo- financial impact. The emerging landscape portrays that European Union, US and many other countries are adopted a favorable policy towards blockchain based infrastructure and virtual currencies.
Businesses are reposing faith on IOTA due to value it bringing to the partnership. IOTA has solution for challenges facing the modern world in the fields of social impact, mobility, smart cities, global trade, digital identity
IOTA has partnered with Dell & Jaguar Land Rover. It has partnered with Cambridge-based AI firm Fetch.ai, for an open-source distributed ledger focused on the Internet of Things
Bureau Galactik Views