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IOTA Reaches The Final Of The European Blockchain Competition

source-logo  cryptonews.net 24 November 2022 14:33, UTC
Anna Martynova

IOTA is one of three firms to reach the final phase of the EU cross-border blockchain service initiative. According to the IOTA Twitter post, IOTA has entered the final phase of the EU Blockchain PCP. Other selected contractors were ChromaWay and Billon.

IOTA Foundation co-founder Dominik SCHIENER also confirmed the development:

"Yes, it's true. IOTA has been selected as one of 3 finalists for the EU Blockchain PCP to build new solutions for the European Blockchain Services Infrastructure.”

Schiener has firmly stated that they are on their way to implementing cryptocurrencies in the real world. Not surprisingly, the community appreciated the efforts of the co-founder and the team working on the program. Many have argued that this is a huge milestone for the network. According to the report of the European Commission, the final phase is already underway. It is scheduled for a year until the fourth quarter of 2023. The final phase, or Phase 2B, will complete final development and field testing.

Image: Inventiva