IOTA continues to expand its presence in Abu Dhabi and Africa through strategic partnerships, while also making significant advancements in technology with the upcoming release of IOTA 2.0.
One of the notable achievements for IOTA is the establishment of the IOTA Foundation in Abu Dhabi in partnership with the Abu Dhabi Global Market (ADGM) in the fourth quarter of 2023. This collaboration paves the way for IOTA’s development in the Middle East and solidifies its position as a crucial technology in the region.
In addition to the Abu Dhabi initiative, IOTA has also gained attention in trade financing through its collaborations with Trademark Africa and the World Economic Forum (WEF). Trademark Africa, although relatively unknown, is an important African organization that promotes global trade and is supported by several G20 nations, as well as the Bill and Melinda Gates Foundation.
At the 13th Ministerial Conference of the World Trade Organization (WTO), IOTA, Trademark Africa, and WEF joined forces to create the Trade Logistics Information Pipeline (TLIP). TLIP aims to streamline trade processes and enhance efficiency, particularly in Africa and Abu Dhabi. This collaboration not only highlights IOTA’s growing influence but also demonstrates its credibility as a trade solution trusted by governments and regulators.
Furthermore, IOTA has strengthened its relationship with the European government through its participation in the EBSI PCP program. Additionally, IOTA has been utilized to test digital IDs and data provenance systems within the European Union.
In terms of technological advancements, IOTA is preparing for the release of IOTA 2.0, which includes a testnet deployment in the second quarter, a whitepaper, and a consensus document that is currently under review. Additionally, IOTA is moving towards a decentralized approach by replacing its coordinator with a validator committee and implementing a Directed Acyclic Graph (DAG) with Nakamoto consensus.
As of now, IOTA’s price has decreased by 0.36% and is trading at $0.3441, with a trading volume of $23.9 million and a market capitalization of $1 billion.
In terms of accessibility, the Bloom wallet has integrated Transak into its platforms for Windows, Mac, and Linux, allowing users to directly purchase IOTA from their wallets. The Bloom wallet serves as a secure hub for wallet activities, enabling token and NFT trading and expanding the reach of IOTA.
Overall, IOTA’s partnerships, advancements in technology, and efforts to enhance accessibility demonstrate its commitment to driving innovation and becoming a prominent player in the blockchain industry.