The IOTA Foundation has partnered with leading open-source foundation, Eclipse, to unveil a new working group dedicated to promoting the commercial adoption of IOTA Tangle, the project’s version of distributed ledger technology (DLT).
The new working group named Tangle EE, according to a Tuesday announcement by the IOTA Foundation, includes a “diverse group of leading firms, academics, and standards bodies in developing data, payment and identity solutions and tooling on IOTA’s Tangle.”
The group is expected to provide a vendor-neutral governance framework under which organizations can build enterprise-grade solutions on the network, allowing member organizations and contributors to develop new ideas and applications in significant use case areas.
Fifteen leading business and academic institutions, notably including American multinational computer technology company, DELL, and Switzerland-headquartered STMicroelectronics, are among the founding members of the new working group.
Under the umbrella, these organizations can steer the direction of IOTA’s development and build their products, services, and intellectual property on the network without any risk of license infringement down the line.
First Two Projects for Tangle EE
Alongside the announcement, the IOTA Foundation also disclosed the first two projects for the working group, namely, the Unified Identity project, and Decentralized Marketplaces.
The Unified Identity project is reportedly designed to build an interoperable trust layer that enables identity for people, organizations, and things. On the other hand, Decentralized Marketplaces will lead to the development of a solution that allows member organizations to deploy and operate in industry-focused decentralized marketplaces seamlessly.
Interestingly, the launch of the new working group coincides with other exciting developments reported by IOTA since the turn of the year.