Iota Foundation has recently announced its partnership with Christian Doppler Laboratory (CDL) of Austria. It is revealed that the firm has joined CDL as an industrial partner. The main reason for forming this partnership is to stimulate research on distributed ledger technologies (DLT).
CDL is situated at the Vienna University of Technology, which is also named CDL Blockchain Technologies for the Internet of Things (CDL-BOT). Margarethe Schramböck, Austrian Federal Minister for Digital & Economic Affairs, has inaugurated the laboratory on November 26, 2020.
Iota Foundation Joining CDL With Pantos
It is revealed that Iota Foundation is entering this partnership with Pantos, which is a Vienna-based trading platform. Prof. Stefan Schulte, the leader at CDL stated:
“With the rising number of potential application areas for DLT-based payments and data exchange in the Internet of Things, new DLTs have to be integrated, and interoperability between different DLTs becomes necessary.”
Schulte is looking forward to conducting joint research with Iota and Pantos. Through this, they will be able to find novel solutions for anything related to DLT.
The main goal of the Iota Foundation is to establish a standard for both DLT and IoT devices. They claim that through Iota, IoT devices will be able to transfer both data and payment information to the devices that are connected to IOTA mainnet.
Transforming Japan’s Industrial Infrastructure
Back in October 2020, Iota Foundation also announced its collaboration with the Japanese government. The foundation will be working with the Government of Japan that will help the country to transform its industrial infrastructure. This will be made possible through Iota’s systems. The platform has earlier announced that they are capable enough of conducting up to 1000 transactions every second. Despite all of its efforts, the foundation has faced huge criticism because of being highly centralized. However, it has earlier revealed that they are planning to become a completely decentralized network by the beginning of the next year, most probably, Q1 2021.