EU selects IOTA to test blockchain technology

IOTA, a cryptocurrency start-up leveraging blockchain technology and IoT (Internet of Things), has been chosen to take part in the next stage of testing and development for an initiative that aims to enhance pan-European blockchain services through a distributed ledger system.

The project, known as European Blockchain Pre-Commercial Procurement (PCP), seeks to investigate the feasibility of utilizing blockchain technology to both improve current applications and develop new ones for the European Blockchain Services Infrastructure (EBSI).