IOTA Announces Collaboration With FINWARE

The IOTA Foundation recently announced that it is opening up avenue towards which its development projects would lean towards open collaboration. This would enable collaboration with external organizations without making users incur extra cost.

This has already led to the understanding between IOTA Foundation joining as a member of the Linux Foundation under the LF Edge project.

A new release seen by Cryptoinfowatch announced on October 23 that IOTA foundation has signed a formal memorandum of understanding with FIWARE to initiate collaboration. This was signed during the Berlin FIWARE Conference.

Speaking on the development, Ulrich Ahle, FIWARE Foundation CEO said that,

By connecting FIWARE with IOTA, we can bring further trust to the processes being automated through any smart solution that is ‘Powered by FIWARE”

IOTA’s synergy with FIWARE would be further expatiated on during the conference by the foundation co-founder, Dominik Schiener. It is clear from the upbeat mood of the executives of the two foundations that it is a mutually beneficial collaboration.

FIWARE has made giant steps in the area of smart solutions. Its high proliferation and integration throughout Europe made the European Commission (EC) to adopt the FIWARE Context Broker technology as a core CEF Building Block.

Speaking on the prospects of the recently signed MoU, the FIWARE Foundation CTO said,

“We can verify context data shared with third-parties, and we can warrant the quality of data being stored in a distributed ledger. This is crucial in applications like those warranting the quality in food production, for example, the observation of certain parameters of animal welfare on farms, or when public administrations strive to ensure transparency of their processes,” 

The IOTA team announced their excitement over the development pointing the massive progress made by FIWARE in the area of data technology as a reason to be excited at the prospects the collaboration holds for IOTA.

It is a step towards the IOTA vision of decentralization in which the platform wants to make sure that IOTA protocols are used outside the IOTA Foundation. The need for scaling is among the drive behind the recent outreach since it doesn’t make sense for data validation to take longer than necessary.



Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative reviews.

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