EU Taps Iota Web3 ID for Blockchain Sandbox
1 min read
EU Taps Iota Web3 ID for Blockchain Sandbox
The European Commission has unveiled its picks for the latest round of the European Blockchain Sandbox initiative (EBSI), and among the chosen participants is Iota. On June 13, the EU Commission announced the entities selected for the second round of EBSI, and Iota made the cut. Iota, known for its open-source distributed ledger and cryptocurrency ecosystem, will showcase its Web3 Identification solution developed alongside partners Walt.id, IDnow, Bloom Wallet, and HAVN.
Iota’s inclusion in the EBSI cohort marks a pivotal moment for its identity solution. The company sees this opportunity as crucial for opening dialogues about Know Your Customer (KYC) processes and privacy regulations within the Web3 framework. This discussion is especially timely, given the increasing scrutiny from regulators concerning decentralized finance (DeFi) platforms.
The European Blockchain Sandbox initiative was launched in 2023 by the European Commission to explore and test distributed ledger technology (DLT) across various industries. Each batch consists of a maximum of 20 projects, which benefit from a controlled environment for testing and validation. These projects also gain valuable face time with EU regulators, fostering an environment conducive to innovation and compliance.
Besides Iota, several other noteworthy projects have been selected. These include the RealEstate.Exchange (REX) by DigiShares, blockchain-based document management from DoxyChain, smart contract and security analysis by Hacken, and
Iota is set to lead the charge in Web3 identification with this incredible opportunity. Kudos to them and their partners! 🎉
Fantastic news! Iota’s solutions have always been top-notch, and this recognition is well-deserved. Looking forward to seeing their innovations in action.
So, Iota is in, but where are the truly innovative projects? This feels like the same old players getting recycled.
Come on, EU Commission. There are way more advanced blockchain projects out there. Why select Iota?
Huge congratulations to Iota for making the cut! Their Web3 Identification solution is revolutionary. Can’t wait to see what they achieve through the EBSI initiative!
This is amazing news! Congrats to Iota and their partners. The future of blockchain is looking bright.
Another missed opportunity by the EU Commission to support truly groundbreaking tech. I’m skeptical of Iota’s potential for meaningful progress.
The European Commission should have chosen more reliable participants. Iota’s track record isn’t exactly spotless. 😕
This is huge! Iota’s inclusion in EBSI will pave the way for significant advancements in the Web3 space. Way to go!
What an exciting time for Iota and the future of blockchain technology! Their approach to KYC and privacy is truly commendable.
Iota again? Seriously? They haven’t really shown effective scalability yet. Why do they keep getting these chances? 🚫
Iota’s inclusion makes me question the impartiality of the selection process. Feels like favoritism to me. 🙄
Massive props to Iota for making it into the EBSI initiative! 🙌 Their Web3 Identification solution is a game-changer. 👏👏
Did they even do any due diligence on Iota’s past performance? There’s a reason why some people consider it unreliable.
Why is Iota still getting funding and attention despite their sustainability issues?
Kudos to Iota for being included in the latest EBSI round! Their work in decentralized finance and privacy is more important than ever. Keep it up!