The post Europe uses Iota’s web3 ID solution in KYC processing appeared on BitcoinEthereumNews.com.

Europe took a big step in its mission to streamline its Know Your Customer (KYC) processes by selecting Iota’s Web3 Identification solution. On June 13, the European Commission announced the participants for the second cohort of the European Blockchain Sandbox initiative (EBSI). Also read: What hope is there left for Europe’s economy? Among the chosen few is Iota, the popular open-source distributed ledger and cryptocurrency ecosystem. The goal is to enhance security and efficiency in KYC processes, ensuring higher transparency and trust in cross-border transactions. With Iota’s technology, Europe hopes to set a new standard in digital identity verification. Brickken’s digital asset platform could revolutionize asset management in Europe Brickken has made significant headway with its Digital Asset Platform, which allows the tokenization of Real-World Assets (RWAs). The Commission chose the platform alongside Iota because of its use cases, which include financial instruments like debt, equity shares, and revenue streams. The platform enables entities to obtain investments and manage investor relations more effectively. By converting RWAs into digital tokens, Brickken ensures a secure and transparent ledger. This makes it easier for companies to attract investments and maintain investor trust. Brickken’s platform is designed to be flexible, adhering to various legislative standards and adapting to future regulatory requirements. “Brickken’s technology streamlines processes like reconciliation, settlements, and distribution of earnings through smart contracts, offering a plug-and-play solution that requires no technical expertise from users,” said a company spokesperson. REX brings innovation to real estate investment According to the report, RealEstate.Exchange (REX)—another chosen project—is transforming how real estate assets are bought, sold, and invested by using distributed ledger technology (DLT). By tokenizing real estate assets, REX provides a secure, transparent, and efficient marketplace for all investors. REX allows companies to raise capital by issuing real estate tokens that can be traded on a…

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Filed under: News - @ June 13, 2024 4:24 pm