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IOTA Foundation Named One of 10 Notable Blockchain Entities in Germany by EU Blockchain Forum

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thecryptobasic.com 25 October 2022 15:39, UTC
  
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IOTA Foundation has received recognition from the EU Blockchain Forum, being mentioned as one of ten notable blockchain entities in Germany.


The blockchain scene has welcomed several companies as it sees an expansion, each providing its unique offerings and major selling points. Germany-based blockchain firm IOTA provides distributed ledger solutions for the Internet of Things (IoT).

Leveraging a directed acyclic graph (DAG) for its ledger transaction storage, IOTA’s modus operandi deviates slightly from traditional blockchain applications. The Germany-based blockchain entity is receiving the recognition it deserves, as the EU Blockchain Forum recently named it one of Germany’s notable blockchain companies.

IOTA disclosed the achievement in a recent tweet, expressing delight in the honorable mention. “We are happy to see that the IOTA Foundation has been mentioned as one of 10 notable #blockchain companies in Germany by EUBlockchain,” the firm revealed in a tweet, sharing a link to the EU Blockchain Forum report.

We are happy to see that the #IOTA Foundation has been mentioned as one of 10 notable #blockchain companies in Germany (p80) by @EUBlockchain 🇪🇺!
Find the full report here 👇https://t.co/hXDCiu5kdm#EBOF

— IOTA (@iota) October 25, 2022

The EU Blockchain Observatory and Forum’s recent report is the eighth account from the entity which looks to provide updates on the condition of the blockchain ecosystem within the European Union.

The report addressed emerging issues facing the blockchain scene and the growth of the industry in each country within the EU bloc, including Germany. As part of its report on Germany, the EU Blockchain Forum highlighted ten notable blockchain entities in the country making significant marks in the industry.

IOTA was mentioned amongst nine other German companies. The EU Blockchain Forum acknowledged that over 343 blockchain entities are in the Central European country of Germany, but the highlighted ten, including IOTA, stand out.

The other nine notable Germany-based blockchain firms include BitsCrunch, peaq, BigchainDB, Nuri, Energy Web Foundation, Finoa, Chainflip, Aragon, and Unstoppable Finance.

In addition to pointing out these notable companies, the report highlighted the burgeoning state of the German blockchain space. Per data from the report, the blockchain company in Germany includes about 150,000 observers, accounting for 0.2% of the country’s population.

Established in 2017, the IOTA Foundation is a non-profit entity developing the IOTA protocol, which seeks to provide top-tier communication and payment services amongst machines on the Internet of Things.

Due largely to its unique mode of operation and notable growth moves, the blockchain company has grown into a reputable entity within the global blockchain scene. Last year, the European Blockchain Services Infrastructure (EBSI) chose IOTA as one of seven entities to facilitate European blockchain ventures in the early stages.

Furthermore, in August of last year, The Crypto Basic reported a decision from Germany’s Federal Ministry of Economy and Energy to select IOTA’s Tangle network as the prime technology behind its SUSEE project.


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