IOTA Foundation, a non-profit foundation focused on distributed ledger technology and permissionless ecosystem development, announced on Tuesday it is collaborating with the Eclipse Foundation, an open-source software foundation for commercial innovation and collaboration, to launch their Tangle EE Working Group (WG).
According to the duo, the Tangle EE WG “unites leading companies and academics” in developing IOTA-based data and payment solutions for commercial use. Dell Technologies and STMicroelectronics are notably among the founding members of the new working group, along with 13 other member organizations, which are Software AG, Object Management Group, accessec, Energinet, BiiLabs, Calypso Network Association, ENGIE Lab CRIGEN, RWTH Aachen University, AKITA, Geometric Energy Corporation, TMForum, Otto von Guericke University Magdeburg and IoTIFY. IOTA and Eclipse revealed in a statement:
“Several projects will be formed under the Eclipse Foundation to drive open-source collaboration and commercial adoption. Business and academia will come together to develop tooling and provide thought-leadership in key IOTA use case areas. The first two projects will explore decentralized marketplaces, which facilitate real-time trading of data and services, and decentralized identity, which enables a unified identity for people, organizations and devices.”
Speaking about the collaboration and the working group, Mike Milinkovich, Executive Director of the Eclipse Foundation, stated:
“The Eclipse Foundation will provide a vendor-neutral governance framework for open collaboration, with IOTA’s scalable, feeless, and permissionless DLT as a base. By doing so, we will accelerate the development of new applications built with this transformative technology.”
Dominik Schiener, Co-Founder of IOTA Foundation, went on to add:
“As IOTA’s technologies continue to be adopted in commercial use cases, this transparent and open governance framework will be essential in regulating code development, ensuring market fit, and fulfilling our promises of openness, interoperability, and sustainability. This will elevate IOTA to production-readiness.”