IOTA Involved in Pilot Project for Trade Clearance in the UK

IOTA is promoting the use of its technology in real-world use cases: In a blog post , the company explains that a pilot project is now starting in the poultry trade from Poland to the UK. IOTA is building on its collaboration with Trade Logistic Information Pipeline (TLIP) , an association that aims to digitize international trade clearance.

In the current test, the service provider Mobius Technology has set out to process six shipments of chilled poultry using TLIP. To do this, information such as shipment history and cooling temperature is entered into the database. This means that the border post in Great Britain should have the information and documents required for processing before the shipments arrive. In the best case scenario, it would then be able to give the “green light” immediately.

IOTA is responsible for the network, digital identities and the central database at TLIP

IOTA Foundation head Dominik Schiener is already rejoicing on X that the cryptocurrency will in future be used to pay fees for data exchange and storage at TLIP. Commentators note, however, that transaction fees will only be introduced in a decentralized IOTA 2.0 and that its launch is up in the air. But one thing is also clear: TLIP is supported by English authorities and donors.

In London, trade between the EU and the UK has been identified as a sector with a volume of more than 500 billion euros annually, which has no longer taken place in the European internal market since Brexit and now urgently needs innovative solutions for customs clearance. TLIP positioned itself here at the beginning of the year . According to the IOTA Foundation, the current pilot project is to be completed by the end of September and then developed into a commercial platform.

Conclusion: IOTA needs positive news – price drop alarming

For critical investors, the crucial question remains whether projects like TLIP can help IOTA’s price curve. This is because it is at an annual low and the launch of the IOTA EVM, which was associated with great hopes , has backfired. The desired decentralized IOTA 2.0 is a topic in itself, which has been worked on for years under the keyword “Coordicide” but is stuck in testnets. So one must be prepared to continue to watch as the crypto industry loses interest in a centralized IOTA with the controversial foundation head Schiener.

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