It started with 35 bids, now it’s down to five – and Iota is still in the running to win the tender for the European Union Blockchain Service Infrastructure project (EBSI).
The EBSI initiative has the express goal of creating a public administration ecosystem that can share and verify data across the continent through the benefits of blockchain technology.
This is no small task – with exceptionally high scalability and security requirements driven by the exponential and burgeoning growth of information sharing across the supranational bureaucracy.
To conceptualise the challenge, there are 29 countries demanding control over their national data but this is coupled with a need to balance data sovereignty within a transparent cross-border public administration ecosystem.
Iota put forward ambitious proposal for EBSI
Iota has put forward an ambitious five point proposal to deliver the benefits of the directed acyclic graph (DAG) tangle model to European public administration, which has successfully passed through Phase 1.
“We’re happy we fit with what they were looking for,” commented Iota’s co-founder.
As Phase 2A unfolds during the coming months Iota will be lab-tested for EBSI infrastructure functionality and, if successful, could be chosen as one of three projects for the final Phase 2B field-testing stage of the tender.
Read more: Iota team team launch Assembly network for smart contracts
Speaking to Coin Rivet, Dominik Schiener (Co-Founder of Iota), revealed that Iota will be publishing new research into advanced data sharding technology that has been under the works in the near future.
“We’ve been working on a scalable Data Sharding protocol that enables data transaction capacity to scale exponentially, while retaining the same security as for value transactions,” explained Schiener.
“We’re confident that our solution can manage the scalability demands of the European Commission and European Blockchain Services Infrastructure.
“We’ll publish research that precedes our work on EBSI in the near future.”
Read more: Iota chosen as bidder for European Union’s EBSI procurement Phase 1
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