IOTA

<p>In a move aimed at catalyzing the adoption of its distributed ledger technology (DLT) in the Middle East, the Berlin-headquartered IOTA Foundation, the developmental force behind the IOTA-directed acyclic graph-based ledger network, unveiled a $100 million foundation in Abu Dhabi on Wednesday.</p><h2 id="header-0">Tokenizing real-world assets</h2><p>The IOTA Foundation announced details of the initiative, known as the IOTA Ecosystem DLT Foundation, via a <a href="https://blog.iota.org/iota-first-dlt-registered-adgm-in-uae/" rel="noopener noreferrer nofollow">blog post</a> published on its website on Wednesday. The new foundation is designed to facilitate the transformation of tangible assets into digital entities, marking a significant stride in the convergence of real-world assets with the digital realm, according to IOTA Co-founder and Chairman Dominik Schiener.</p><h2 id="header-1">Taking to the X platform, Schiener<a href="https://x.com/DomSchiener/status/1729883582108504270?s&#61;20" rel="noopener noreferrer nofollow"> wrote</a>:</h2><p>”We will double down on our efforts to bring the real world to Web3. We will pave the way to tokenize RWA [Real World Assets] assets on<a href="https://twitter.com/hashtag/IOTA?src&#61;hashtag_click" rel="noopener noreferrer nofollow"> #IOTA</a> and work with the governments in the UAE, across the Middle East and Africa to digitize their trade infrastructure and tokenize assets. We will make Blockchain real, with real use cases, real adoption, real yield and real assets.”</p><p>IOTA is not a blockchain, but a related distributed ledger technology. DLT has garnered attention for its diverse applications over the past decade. IOTA’s digital tokens will serve as the financial backbone for this substantial investment, signaling a strategic move amidst recent setbacks in the cryptocurrency sector.</p><h2 id="header-2">Regulatory first in Abu Dhabi</h2><p>The IOTA Ecosystem DLT Foundation stands out as the first blockchain-focused foundation sanctioned by the regulatory authorities of the Abu Dhabi Global Market (ADGM), a key financial hub within the United Arab Emirates (UAE). The ADGM<a href="https://medium.com/&#64;coinness.gl/abu-dhabis-adgm-unveils-dlt-foundations-regulations-f682fa376937" rel="noopener noreferrer nofollow"> solidified</a> its blockchain regulations in early November, creating a conducive environment for innovative blockchain-focused entities. The regulatory framework was crafted to offer a comprehensive structure specifically for DLT foundations and decentralized autonomous organizations (DAOs).</p><p>Schiener expanded further on plans for the DLT Foundation:</p><p>”With a new headquarter in the UAE, we are positioning IOTA from being an Enterprise Blockchain in Europe, to becoming one of the largest, global Crypto ecosystems. We will fully support Web3 and DeFi use cases on IOTA with the<a href="https://twitter.com/hashtag/EVM?src&#61;hashtag_click" rel="noopener noreferrer nofollow"> #EVM</a> launch in Q1.”</p><p>Endowed with over $100 million in IOTA tokens, the foundation’s funds will be gradually vested over the next four years.</p><p>The financial infusion is earmarked for the development and expansion of the IOTA network. Additionally, IOTA will embark on asset “tokenization,” a process involving the representation of ownership rights for land or buildings as digital tokens stored on a blockchain. These tokens, akin to digital certificates of ownership, extend to virtually any valuable object.</p><p>IOTA launched in 2015, and within its first two years, it rose to be a top-ten crypto project on the basis of market capitalization. Over the course of the last six years, the project has struggled to make the network less centralized. There have also been internal conflicts, which resulted in a number of the project’s co-founders stepping away from the project. With this latest development, Schiener suggested that IOTA could work its way back to being a top-ten project once again.</p>

IOTA accelerates Middle East expansion with $100M foundation launch

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