Merlijn, a renowned crypto trader and analyst, has recently shed light on a promising collaboration between the open-source decentralized platform IOTA and the European Commission. This partnership is expected to significantly bolster the future of regulated crypto in Europe, driving digital innovation and setting the stage for exponential growth.
Merlijn argues that the collaboration has the potential to catalyze real-world crypto adoption throughout Europe. He emphasized Europe’s support for IOTA’s Web3 ID and digital product passports, both pioneering developments in the crypto world.
The digital Web3 ID wallet, a revolutionary product by IOTA, has been designed to electronically sign and store various types of documents, from train tickets to university diplomas. This technology is being hailed as the next step in the evolution of everyday life and work for European citizens.
The partnership between IOTA and the European Commission comes at a time when the EU is looking to implement a comprehensive digital ID scheme. The European Digital Identity (EUDI) regulation was recently updated, with full implementation expected by 2026.
In a parallel development, the IOTA Foundation has introduced a Digital Passport. As previously reported, this product is part of the Foundation’s contribution to the European Blockchain Pre-Commercial Procurement, funded by the European Commission.
The Digital Product Passport has been designed as a data-sharing system to support product circularity. The system allows relevant information to be shared across the supply chain while preventing unwanted disclosure. The product has found particular utility in the military sector, enhancing interoperability across various functions such as procurement, maintenance, and logistics.
IOTA is leading the charge in the EU’s blockchain revolution, developing cutting-edge solutions for businesses operating within the region. Recently, IOTA also unveiled a novel Know Your Customer (KYC) solution aimed at enhancing safety and security within the Decentralized Finance (DeFi) ecosystem. This system allows users to authenticate their identities without disclosing personal information, thereby mitigating risks associated with identity theft and fraud.
In partnership with the EU, IOTA plans to power sustainable energy rewards in the Netherlands. This alliance further cements IOTA’s status as a pivotal player in providing sustainability-focused solutions. These initiatives are in line with IOTA’s broader commitment to sustainability, which is now a fundamental aspect of its technological development.
IOTA’s influence isn’t limited to Europe; the protocol is also leading a blockchain revolution across Africa with its newest project, IOTA Rebased. This ambitious initiative aims to bolster decentralization and foster the development of blockchain technology in Africa, demonstrating IOTA’s global reach and transformative potential.
