Why IOTA Was Chosen By The European Union To Develop Blockchain Solutions

Why IOTA Was Chosen By The European Union To Develop Blockchain Solutions


IOTA was selected as one of the projects that will take part in the European Union Blockchain Pre-Commercial Procurement. The platform will be competing with four projects in a second round for this EU program for a chance at improving the European Blockchain Services Infrastructure (EBSI).

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Announced by the IOTA Foundation (IF), the network has reached stage two out of three after it was selected from around 35 applicants. This second phase will last around six months, per the announcement, and will have a special focus on research, development, and lab testing.

The IOTA Foundation will receive support from the European Commission in order to investigate and develop “blockchain innovations in

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