The non-profit IOTA Foundation is among the contractors selected by the European Commission to participate in the first phase of the design of the European EBSI blockchain infrastructure.
As a result of the tender, the IOTA Foundation, together with its subcontractor Software AG, were selected to participate in the first stage of the pre-commercial procurement process for the creation of the European Blockchain Services Infrastructure (EBSI). After submitting more than 30 applications to the European Commission, IOTA has become one of the seven selected contractors.
Commenting on the results, IOTA co-founder and CEO Dominik Schiener wrote on Twitter that I am glad and proud to participate in a global European project. He hopes that “IOTA will become a fundamental technology for Europe and the world.”
In April 2018, the European Commission formulated minimum technical requirements for nodes wishing to participate in the EBSI testnet. Starting in 2020, EBSI is gradually rolling out a network of distributed blockchain nodes across Europe, selecting and supporting applications that match selected use cases.
EBSI is a peer-to-peer network of interconnected nodes. The European Commission manages the EBSI nodes at the European level, and the authorities of the EU member states manage the EBSI nodes at the national level. Current investments in the project are about € 4 million, and about € 6.2 million will be allocated for the next stages of infrastructure creation.