The IOTA Foundation, a non-profit, technology-focused distributed ledger foundation, has announced that it is entering a new research project that is scheduled to run for seven years. As an industrial partner, the IOTA Foundation is joining the new research laboratory for blockchain technology for the Internet of Things (IoT).
The Christian Doppler Laboratory (CDL-BOT), a research laboratory, will provide cutting-edge research on DLT interoperability, the intersection of DLT with the Internet of Things, and offers of developer assistance.
In a digital ceremony, the Federal Minister for Digital Economic Affairs in Austria officially opened the laboratory, accompanied by Dominik Schiener, co-founder and co-chair of the IOTA Board of Directors. The IOTA Foundation continues to work for the advancement of open-source software and trusted IoT infrastructures.
For the IOTA Foundation, this project will allow for further IOTA Tangle creation and testing, as well as Internet of Things applications. To further improve the European DLT ecosystem, the project will also look beyond the IOTA protocol. IOTA explained:
â€œThis requires novel mechanisms to enable DLT interoperability ranging from cross-blockchain token transfers or atomic swaps to cross-blockchain smart contract invocation and interaction, as well as providing client-side blockchain interoperability through developer support.â€
The research project has also been joined by Pantos, a scientific research project aimed at overcoming key technological obstacles in the crypto and digital asset space, and Bitpanda, a leading European neobroker. The new lab’s chief, Prof. Stefan Schulte, said that with the number of potential application areas in the Internet of Things for DLT-based payments and data sharing, new DLTs need to be integrated, and interoperability between the various DLTs becomes essential. In order to find new solutions to this highly topical subject, I look forward to joint research with the IOTA Foundation and Pantos.
The press release also mentioned that under the supervision of Prof. Stefan Schulte, postdoctoral and doctoral students would also be employed for the research project.