The European Commission’s selection of Iota’s Web3 ID solution highlights the solution’s potential to revolutionize KYC processes using distributed ledger technology and tokenization on a mass scale.
The European Commission announced its selection of Iota’s Web3 Identification solution for its current edition of the European Blockchain Sandbox initiative (EBSI).
On June 13, the European Commission announced the selected participants for the second cohort of its EBSI. Among those chosen is Iota, an open-source distributed ledger and cryptocurrency ecosystem.
Iota’s selection highlights its Web3 ID solution, developed in collaboration with Walt.id, IDnow, Bloom Wallet and HAVN.
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Source: https://cointelegraph.com/news/eu-commission-selects-iota-web3-id-blockchain-sandbox