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Home Crypto News Market IOTA Partnership With The Austrian Federal Ministry To Promote DLT & IoT

IOTA Partnership With The Austrian Federal Ministry To Promote DLT & IoT

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In cooperation with Pantos and the Austrian Federal Ministry, IOTA aims to promote blockchain and DLT interoperability under the umbrella of a new research laboratory.

With this, IOTA is signaling that IoT is still one of its main focuses, while its full protocol update is getting closer.

IOTA supports blockchain and IoT development.
In a press release published on November 26, 2020, the Bitpanda-supported Pantos and IOTA project in collaboration with the Austrian Federal Ministry for Digital and Economic Affairs unveiled the new Christian Doppler Laboratory for Blockchain Technologies for the Internet of Things (CDL-BOT) .

The new Christian Doppler Laboratory was officially opened on Thursday, November 26th in Vienna with Prof. Stefan Schulte as head. Schulte himself is from the Institute for Information Systems Engineering at the TU Vienna.

The new lab will reportedly focus on research activities at the intersection of blockchain and IoT technology. The facility’s researchers will seek ways to achieve robust and efficient interoperability between distributed ledger technology (DLT) protocols and IoT applications.

IoT remains a focus as full protocol update approaches.
Both blockchain and IoT technology are considered to be some of the more important emerging technologies. They are supposed to drive the realization of the fourth industrial revolution. As part of several innovative endeavors, scientists are trying to transform the world into a fully realized digital space with the help of protocols such as big data and machine learning.

According to IOTA’s blog post, the co-founder and co-chairman of the board of the IOTA Foundation, Dominik Schiener, commented on the latest development. Part of Schiener’s statement reads:

Together with the world’s leading academic institution Vienna University of Technology and Pantos as a cutting-edge technology provider, we will concentrate on the interoperable transfer of digital assets and the trustworthy Internet of Things, while at the same time expanding our presence, especially in Austria.

In October, the DLT project announced the final alpha version of the IOTA streams, which is being developed to facilitate seamless data transmission for the IoT ecosystem.

The IOTA Foundation continues to develop the basics for her transition from Coordinator to Koordicide. This step aims to completely decentralize the network. According to an update in November, IOTA announced that their Chrysalis Phase 2 is seeing steady development progress. An earlier November update noted progress reports in areas such as the implementation of the pollen testnet.

Apart from IOTA 2.0, IOTA has also been introduced in several industries and countries. In October, IOTA’s Tangle technology was adopted by three researchers from Taiwan’s National Kaohsiung University to develop an improved version of BitTorrent.

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Mark Brennan
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.



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