I think initially it will be 10k to 100k transactions per day, but it can quickly scale up to millions of transactions. As we connect more countries to TWIN, this number will scale exponentially.
Every consignment needs between 5 to 10 transactions to digitize it onchain. Once we RWAfi it (tokenize assets and put it into DeFi) we are talking about dozens of transactions per tokenized asset.
The main reason why we are betting so much on international trade is because we are confident that this can make IOTA go deflationary with real usage in the real world. We have a unique opportunity to bring billions of RWA assets onchain.
Dear #IOTA#Shimmer community,
Approximately 75% of you have told us that we should save the Tangle❤️
We believe in the unparalleled potential of Tangle technology. It simply needs to be adopted in its best fit and continue moving towards our shared goals. So let's make it happen together—NOW.
With @LinusNaumann and other early contributors, we are finalizing detailed plans, and execution starts immediately. We're committed to delivering tangible results within weeks. We're moving fast and efficiently.
Let's not waste this great technology. Let's not waste this bull run. Stay tuned, stay passionate🔥
The EU's recently selected it's 2nd cohort to participate in the European Blockchain Sandbox.
As MiCA comes closer into effect, the EU accelerates their trials of commercial DLT.
$CHEQ & $IOTA have both been selected with the future of identity within the EU.
These two have both shown close ties to the EU dating back to the early MiCA days.
With Cheqd we've seen the history behind both Fraser & Ankur having worked in Digital ID & FinTech at Accenture prior to founding Cheqd.
Additionally we've also seen Cheqd's commitment to comply with EU data & ID regulations.
IOTA's been the only public DLT to have made it to the EBSI's EU Pre Commercial DLT trials Phase 2B.
Needless to say, both have proven their legitimacy to the EU.
Out of the 20 total projects selected only four come from the public DLT space, and both IOTA and Cheqd are focused on identity solutions.
Quite interesting to see that these two have been entrusted by the EU to develop the identity aspects of this sandbox.
This is a major development for both these companies and for the direction of the EU's blockchain strategy.
A core tenet of these solutions is empowering users with control over their data.
By storing credentials in secure wallets and enabling selective disclosure, they prioritize user privacy.
Here's a breakdown of what each brings to the table:
IOTA
IOTA is entering the sandbox with a consortium including IDnow, walt-ID, Bloom Labs, and Spyce5.
Together they've developed a Digital ID solution and wallet that encompasses:
• Decentralized user authentication system
• KYC/AML regulations for DeFi and Web3
• Uses IOTA's feeless Tangle for ID verification
• Securely stores user credentials in wallet
• Enables access to dApps based on credentials
It's everything you want in a traditional Web3 wallet paired with public service access.
Best of all? Everything's feeless within IOTA's tangle.
This work with IOTA & their consortium further underpins the EU's trust in IOTA's use of Digital IDs after they had advanced to the final stage of the EU PCP.
CHEQD
Much like IOTA, Cheqd is also joining the sandbox with a few other members.
These names include Netis, Danube Tech, and Soverio.
Though they're not building a Digital ID platform as IOTA & their team have that solved.
Rather they're building a ledger agnostic trust registry for verifiable credentials.
The focus will be on compliance and interoperability with other trust and ID registries by complying to standards like W3C Digital ID.
Additionally it'll be a given that this registry complies with EU data laws such as eIDAS & EUDI.
This registry has a lot of potential to have cross synergy with the Digital ID ecosystem IOTA & their team are building for the EU.
Cheqd's approach tackles a critical but often overlooked aspect of digital IDs: ensuring trust and compatibility across different systems.
As a Digital ID paired with a trust registry certainly would create for further trusted use in identities and credentials.
Cheqd has worked to comply with various industry standards from Day 1 ranging from W3C, ISO, etc.
This enables an industry compatibility of their solutions and it's one thing the EU has highlighted.
Their focus on industry standards and EU regulations positions them well for wider adoption.
MiCA regulations come into effect later this year,
These projects could play a significant role in shaping the future of European identity management.
The future of Cheqd & IOTA are looking bright in the EU!
All this real world adoption is happening on IOTA and will run on our L1 mainnet, consuming IOTA tokens for storage deposit and transaction fees
Imagine what will happen once we scale up the adoption of our digital trade, digital identity and tokenization applications globally.
This, and so much more, is what we are here to achieve with #IOTA. We are here to bring the real world to Web3.
Stargate has launched Hydra on #IOTAEVM!
You can now access the canonical $USDC, $USDT and $WETH with unlimited size and zero fees at https://t.co/SKTnxWyxrX ⛓️
Check out their blog to learn more about @IOTA👇
GM 🌅 #IOTA Fam 🤖,
have you ever wondered, why suddenly everyone is hyped about the 🇦🇪 #UAE and the regulators at @ADGlobalMarket ?
@AllgoodFuturist just recently gave a super interesting interview to @FintechTvGlobal on Asset Tokenization.
He said 📺
But why? 🧵👇
$IOTA - @iota
IOTA is unique in countless ways! 📚
IOTA's Tangle technology facilitates rapid, feeless transactions, making it a revolutionary solution for IoT scalability and security. ⚙️
A break above the last major high at $0.24 could signal a continuation towards the $0.3125 mark! 🚀
Full #IOTA analysis in the comments.
We're thrilled to announce that the @shimmernet Kickstarter has concluded and $SMR will be listed on #MEXC!
🔹Deposit: Opened
🔹SMR/USDT Trading in the Innovation Zone: 2024-04-26 14:00 (UTC)
Details: https://t.co/jDMV3Y5EUR
🗣️We need to reach communities beyond the #IOTA bubble.
That's why we have added a #Cryptonews section on https://t.co/aeVwxY7Y5B and published a Google News stream.💪
➡️We need you! Please follow us to get approved to connect new ecosystems with IOTA: https://t.co/0stIbNAd8l
Real World Assets are coming to #crypto, and some crypto projects are already making this a reality.
but hold on... what are real world assets? and why is it such a big deal?
Let’s dive in 👇
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The $IOTA ecosystem is one thats often forgotten by many in the DLT space.
While they stay rather quiet, when they do make noise, it's usually quite substantial news coming out.
Recently IOTA has showcased their advancements around government, RWA & even global trade.
Here's where IOTA is at today.
One of the prime focuses of IOTA & one of few aspects that set them apart from the majority of L1s is their involvement in EU backed DLT pilots.
In fact, IOTA has been collaborating with the EU since 2020 but they've now advanced to the final phase of the EU Pre Commercial Procurement (PCP).
This program is aimed to research and test applicable DLT networks for economic and commercial use.
IOTA is one of few companies that have made it to the final Phase 2B of the EU PCP program.
They had passed previous stages in Phase I & 2A and vetted by the EU as viable solutions for use.
These tests revolved around various subjects ranging from digital IDs, ESG, supply chains & more.
2 specific IOTA services were utilized in this partnership to realize DLT utility in a commercial setting.
IOTA Identity- This was utilized to create the Digital Product Passports for EU testing under the CIRPASS initiative which looked to create Digital IDs for electronics, batteries & textiles.
CIRPASS was also an EU funded initiative.
IOTA Streams- Utilizing the provenance of DLT, IOTA Streams was used to track IPs in the creative industry to track, transfer and use certain IP rights in a legal manner.
For the final testing phase in 2B with the EBSI, IOTA will look to complete field testing of the IOTA Stardust solution, including smart contracts & tokenization.
But the EU isn't the only governmental body that IOTA has begun building with!
In late Q4 2023, IOTA had also announced the launch of the IOTA Foundation after getting the green light by the Abu Dhabi Global Markets (ADGM).
We saw the newly created IOTA Foundation make their first big move by allocating over $10 million to accelerate tokenization on IOTA to benefit the UAE & African regions.
The aim for tokenization innovations on IOTA ranges from real world assets, to instruments in trade finance.
It makes sense why UAE is a target area as the Foundation is based in Abu Dhabi,
But what about Africa?
This region is another recent advancement IOTA has made alongside the World Economic Forum.
Coincidentally, this came from the World Trade Organization's (WTO) 13th Ministerial Conference which was based in none other than Abu Dhabi!
This partnership also involves Trademark Africa (TMA).
TMA is a non profit organization that aims to aid the future of trade & is funded by the likes of:
• Canada
• Belgium
• Bill & Melinda Gates Foundation
• European Union
• United States
• United Kingdom
• Finland
• France
• Ireland
• Netherlands
• Norway
Needless to say, quite a large entity in the trade space.
This partnership was created to form the Trade Logistics Information Pipeline (TLIP).
TLIP aims to significantly reduce transaction costs & enhance efficiency in X-border trade operations.
The core technology and infrastructure of TLIP was built overtop of IOTA to leverage it's endless scalability and distributed network capabilities for transparency.
The future of TLIP is bound to intersect with the $10 million tokenization efforts by the IOTA Foundation.
It really seems that IOTA is now gearing up for more than just big data & M2M communications as we've seen in the past.
This restructure brings a world of potential on how IOTA's scalable, feeless network for industry use.
Take your SMR back to L1 and vote with all you got! We need as many treasuries in the ecosystem as possible to fund as many projects and listings as possible🙏