IOTA Joins EU-funded ENSURESEC Consortium
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The IOTA Foundation has announced it is joining a collaborative Innovation Action project awarded by the European Commission called ENSURESEC.

The ENSURESEC project, according to an official announcement, is focused on promoting the fair growth of all small businesses and distributors across the European market with a high level of security.

IOTA Joins EU-funded ENSURESEC Consortium

The IOTA Foundation is reportedly the only distributed ledger tech provider and will work together with various partners, including Universities and Research Organizations, maintaining the e-commerce infrastructure and banks offering the required payments network.

From the technical point of view, ENSURESEC will develop a platform of security tools for the e-commerce ecosystem.

"IOTA Foundation will leverage a public budget of 450K EUR to provide the technology (the IOTA Tangle) and the expertise to build such an immutable decentralized audit trail infrastructure," Michele Nati, PhDTech analyst at the IOTA Foundation wrote in the announcement.

It is expected that the ENSURESEC technology will be deployed and tested in a number of different real-world e-commerce scenarios.

IOTA Network Resumes Operations After 2 Months of Downtime

Last year, the IOTA Foundation entered into a partnership with manufacturing company Avery Dennison, to implement blockchain tech for supply chain.

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