IOTA Foundation Extends Support to LEDGER to Develop Human Centric DLT Solutions

IOTA Foundation Extends Support to LEDGER to Develop Human Centric DLT Solutions

  • IOTA Foundation announces support for LEDGER Venture Builders
  • IOTA Foundation to focus on human centric DLT solutions
  • At press time, MIOTA trades at $0.30 and sits at 14th position by market cap

The IOTA Foundation on March 29, 2019, announced its support for LEDGER Venture Builders to help develop human centric distributed ledger technology (DLT) solutions.

IOTA Committed to Decentralization

IOTA has proved to be one of the cryptocurrency projects with the strongest fundamentals. Although critics argue that its “Coordinator” is a big obstacle to the decentralized vision of the project, optimists believe that it won’t be too long before IOTA gets rid of it.

In a bid to enhance the use-cases of DLT and, in particular, IOTA’s Tangle, the community has decided to support LEDGER, a consortium led by FundingBox (Poland, Spain and Denmark) in partnership with Dyne (Holland) and BLUMORPHO (France and Germany).

According to the blog post, selected teams from the IOTA community will get the opportunity to access LEDGER’s 12-month DLT-focused program and as much as €200,000 equity-free funding.

The announcement states that LEDGER is currently looking for enterprise-grade ideas that allow data sovereignty and operate in a decentralized ecosystem unlike the existing centralizes data houses. The European Union has also thrown its weight behind the initiative stating that it will accelerate 32 teams into firms that possess a strong human centric values business model.

The European Commission seems to be investing heavily in the nascent blockchain and DLT space at large. The organization has invested in excess of €80 million in blockchain projects for societal use. It is expected that by 2020, the body would have staked close to €300 million to blockchain initiatives like LEDGER.

The IOTA Foundation notes that it is excited to support an initiative such as LEDGER due to its human-centric approach to emerging technologies like the blockchain which sits in line with the Foundation’s vision. The IOTA protocol is in itself designed in a manner to empower individuals, alongside Internet of Things (IoT), to engage with their immediate environment in a decentralized manner.

IOTA on a Roll

Although it might not have had a significant impact on its MIOTA token just yet, the past few months have been rather stellar for the IOTA Foundation in terms of exposure to the mainstream.

As reported by BR on March 21, 2019, people can now make payments in MIOTA tokens to merchants using Apple Pay and Samsung Pay, courtesy of IOTA’s integration with payments app Zuex app.

Further, on the same day, reports emerged how IOTA’s Tangle-based solutions were presented to UK Parliament.

At press time, MIOTA sits at 14th position on CoinMarketCap crypto table trading $0.30 with a total market cap of $850 million.

IOTA Foundation to focus on human centric DLT solutions