In an unprecedented turn of events, the IOTA Foundation has allied with leading global entities to embark on an ambitious journey that promises to reshape the landscape of international trade. This strategic partnership, which includes the World Economic Forum, Trademark Africa, and the Tony Blair Institute for Global Change, is poised to address the age-old inefficiencies and opacities plaguing global trade through the groundbreaking Trade Logistics Information Pipeline (TLIP).

Revolutionizing Trade with TLIP

With TLIP, the concept of physical stamps on trade certificates is gracefully retired. Instead, it stands for a digital counterpart that ensures documents remain inviolable. The immutable nature of IOTA’s DLT offers an unassailable assurance that once a document is authenticated, it cannot be altered, creating an unbroken chain of accountability.

The Power of Distributed Controls

A critical feature of IOTA’s technology is its distributed controls, which allow trade actors to manage their data and grant access permissions autonomously. With this, the TLIP can preserve the decentralization ethos of the free market. This approach negates the need for a centralized platform, mitigating the risks associated with data consolidation.

Forging a Collaborative Governance Structure

In the WTO’s 13th Ministerial Conference in Abu Dhabi, the IOTA Foundation and its partners made a commitment through a Collaboration Agreement. The essence of this agreement is to foster a collaborative and impartial governance structure for TLIP. This inclusive framework invites stakeholders to co-design the digital future of international trade.

The TLIP is underpinned by open-source technology, which ensures that all participants, regardless of their size or sector. Further, they all have equal access to the digital infrastructure. The goal is to create a non-profit, interoperable ecosystem to serve as a foundation for companies to build commercial models.  Also, to power applications that add value to the entire trade process.

The partnership between the IOTA Foundation and global trade leaders is more than just a technological alliance; it’s a beacon of change for the international community, signaling the dawn of a more efficient, transparent, and collaborative global trade environment.

IOTA Network Finds Surge in NFT Activity

As per the IOTA explorer, a significant increase in the creation and transfer of NFTs is observed, especially in recent months, peaking in February. This uptick indicates a growing interest in and usage of the IOTA platform for NFT transactions.

Further, there’s been a noticeable spike in active addresses, suggesting a heightened activity that could fuel the IOTA price. This could reflect a burgeoning user base or increased transactional activity, possibly driven by the NFT market activities. 

The ledger size is gradually increasing, a sign that more data is being stored on the IOTA network. This growth is crucial as it shows user adoption and network utility. A larger ledger signifies that more information is being secured on the IOTA Tangle. Thus, it points to its viability and robustness as a data management system. 

The post IOTA Foundation Partners with WEF and Global Trade Leaders in Abu Dhabi appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am