The IOTA Foundation has successfully completed the third and final stage of the European Pre-Commercial Procurement (PCP) project in the field of blockchain technologies. This project, launched by the European Commission in 2021, aimed to develop new distributed ledger technology (DLT) solutions for Europe.
As is noted in a release from the IOTA Foundation, the project aims to develop a scalable, sustainable and secure international infrastructure based on DLT technology that meets EU regulatory requirements and local user demand for blockchain solutions.
IOTA was selected as one of seven projects among 30 applications to participate in the European Blockchain PCP. Together with its partners: Digimarc, Universidad Politécnica de Catalunya, Musika Peripherika, Software AG and Uncommon Digital, IOTA developed prototype solutions that are now planned to be implemented in the market.
Initially, the developed solutions were planned to be integrated into the European Blockchain Services Infrastructure (EBSI) – an open, permissioned network of blockchain nodes across Europe to support cross-border credentials for individuals and organizations. The project later evolved into the European Digital Infrastructure Consortium for Blockchain (EUROPEUMEDIC), which will provide next-generation infrastructure to support scalable, energy-efficient and secure blockchain applications.
