https://ift.tt/3I9abvv Selected for Second Phase of the EU Blockchain Pre-Commercial Procurement Process

The IOTA Foundation has announced that it has been selected alongside four other projects for the second round of the EU blockchain pre-commercial procurement process.

According to an announcement today by the company, the second round of the ongoing European blockchain pre-commercial procurement process will be divided into two segments, with the first phase, Phase 2A, expected to last for six months.

During this period, the participating projects will embark on a series of research, prototype development, and lab testing.

Notably, the European Commission will support the selected projects with relevant resources that will enable them to research and develop blockchain innovations, specifically for testing how future evolutions of EBSI can be upgraded to a more scalable, secure, and interoperable architecture.

IOTA noted that after the first six months, the European Commission will evaluate the performance of the five participating projects and will subsequently select three from the list.

The three selected projects will move on to Phase 2B, the stage where final solutions will be developed as well as field testing, and it is expected to last for another year.

“The main focus of our work in Phase 2A will be on the integration of the IOTA protocol on the (test) infrastructure, with iterative testing and improvement to achieve performance objectives,” IOTA said in the announcement.

IOTA will focus more on research that will improve the protocol to be used in several EBSI use cases, including Internet of Things (IoTs), tokenization, and decentralized governance.

Per the announcement, the IOTA’s research and testing for ESBI will center on five main areas such as scalability, consensus, governance, identity, and interoperability.

The competition is part of the European Blockchain Services Infrastructure (EBSI) initiative, which has been in the works for several years.

The first phase of the competition, which launched in July 2021 and spanned through a period of three months, saw the participation of seven projects, which were chosen out of 35 applicants.