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Q3 2024 Progress Report

Author: Content Editor
The IOTA Foundation has made significant progress in various departments during Q3 2024. The Technology Adoption department has been focused on driving the widespread use of IOTA's distributed ledger technology and has seen success with the Eviden Digital Passport Solution (EDPS), which has integrated into several industries. The partnership between IOTA and Eviden has gained momentum, and the technical specifications for EDPS have been finalized. In terms of real-world adoption, two projects were onboarded for the IOTA Tenity RWA Accelerator Program.

The Trade and Logistics Information Pipeline (TLIP) has advanced integrations with Kenyan government agencies, allowing traders to directly access and share critical trade documents. TLIP's capability was also demonstrated in capturing supply chain data for EU-UK poultry shipments.

The Ecosystem Team has played a crucial role in expanding IOTA's reach by fostering growth and innovation within the ecosystem. The IOTA community has voted in favor of unlocking 170 million unclaimed IOTA tokens for liquidity within the IOTA EVM ecosystem. 40 new grant applications were submitted, and five additional projects were approved, bringing the total committed funding to $3.7 million.

IOTALabs was launched as a new brand dedicated to growing the IOTA ecosystem and focuses on community building, developer support, incentives for innovation, infrastructure, and cross-sector collaboration. The Legal and Regulatory Affairs department made strides in providing regulatory support and finalized grant agreements under the IOTA Ecosystem DLT Foundation. The department also joined several patent pools to protect operations and support open innovation.

Looking ahead, the IOTA Foundation is committed to advancing its mission and anticipates unveiling further details about an internal project. They aim to continue progress across key initiatives, expand partnerships, and drive ecosystem growth.

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