TradeMark East Africa has approved a partnership with IOTA Foundation after a series of negotiations between the two organizations. TradeMark East Africa is a foremost player in the region in terms of infrastructural support to governments and businesses in the region.
In a recent release by the IOTA Foundation, the team announced that the recent deal with TMEA would bring to bear the application of the IOTA tangle in the areas of improved data management systems and digital inclusiveness for small and large organizations in the region.
Perhaps, the most interesting feature of the IOTA partnership is in the enhancement of transparency in supply chain management to increase competitiveness of East African products in the world market.
According to a Medium post, IOTA Foundation is interested in the digitization of trade certificates and other documents to protect their integrity instead of the usual manual transmission of such documents.
Announcing our partnership with TradeMark East Africa to bring trust & collaboration to trade Infrastructure. We’re excited to take this step to ease trade barriers inhibiting growth & to improve the economic prosperity in Africa: https://t.co/aIvQcMQQWn #IOTA @TradeMarkEastA pic.twitter.com/kjxigp4XjN— IOTA (@iotatoken) March 12, 2020
“The first area the partnership is focusing on is the exchange of data and trade certificates across borders and between government agencies and with traders.”
By introducing IOTA tangle technology in business and governance in the region through this collaboration, the foundation would promote the trustless system that has made internet of things a technology that is sought after.
Other benefits are the feeless structure of the technology which would not require the purchase of tokens to. The essence is to give each player control and room to innovate and grow their businesses around such public data structure.