Blockchain platform IOTA has joined ENSURESEC, a consortium of 22 firms committed towards building an immutable decentralized e-commerce infrastructure. IOTA revealed this news on its Twitter page, as it becomes the latest partner in the European Commission project.
ENSURESEC Initiated to Transform European E-commerce Industry
ENSURESEC is an initiative developed by the European Commission to transform the current face and status of the e-commerce industry. The consortium, which consists of 22 firms from 14 countries, seeks to address the different problems facing the industry from product delivery issues to increasing level of frauds committed by insiders and customers.
The partners range from different fields including tech, educational, financial and blockchain industry. Part of the resolution is to develop a state of the art inductive ecosystem which involves novel tools and techniques involving distributed ledger technology.
The solution will also ensure designs that incorporate continuous monitoring, response and mitigation measures. This, according to ENSURESEC, will ensure that the current values of GDPR are enforced within the European markets.
ENSURESEC Partnership Continues IOTA Recent Developments
IOTA has a track record of embarking on prestigious partnerships as the blockchain platform seeks to increase its adoption within the mainstream markets.
IOTA has in recent months embarked on partnerships with various tech and fintech firms to adopt its solutions. The blockchain platform recently signed an agreement with Finnish tech start-up Heliostorage to develop an energy system for five Finland smart villages
IOTA foundation co-founders Dominik Schiener and David Sønstebø recently spoke of the firm’s wish to expand across Europe into the US and Asia. At the moment 70% 0f IOTA partners are Europe-based and the foundation believes that the blockchain has a higher potential for adoption in US and Asian countries.
IOTA (MIOTA ) Price.
IOTA (MIOTA) is ranked 24th on the coin rankings and has experienced a good run in recent days. IOTA (MIOTA) is currently valued at $0.25053 as at press time after experiencing a negative return of -3.93% in the last 24 hours of trading.