Lewis Freiberg, Director of Ecosystem at IOTA blogged on 30 March about IOTA Foundation’s support for LEDGER to foster human-centric distributed ledger technologies (DLT).

IOTA is a non-profit foundation based in Germany and its mission is to support the development/ordering of new distributed ledger technologies.

Lewis commenced by conveying that LEDGER was a European Commission (EC) funded project. This project is actively looking forward to onboard people working on decentralized technologies. The selected teams would be benefited from LEDGER’s 12-month programme and gain a ballpark amount of 200,000 euros as equity-free funding.

Lewis cited on IOTA Foundation’s backing as –

“The IOTA Foundation is excited to support the LEDGER initiative due to its citizen centric focus. The shift away from external ownership of personal data to a human-centred model is a focus of the Foundation. As such, the IOTA protocol has been designed to empower individuals, alongside IoT, to engage with their surroundings in a decentralised manner.”

Lewis clarified on the logic that LEDGER was expecting from the teams. Essentially, LEDGER is looking for enterprise ideas that uphold unconditional data. The project is on the lookout for data that operate in alternative space versus getting secluded in a few commercial platforms. The EU would work to accelerate 32 teams into companies with a sound human-centric business model.

SURELY AN ENCOURAGING DEVELOPMENT WHEN BODIES LIKE THE EUROPEAN COMMISSION STEP AHEAD TO PROPAGATE DISTRIBUTED LEDGER TECHNOLOGIES.

Lewis further added that LEDGER is a part of the Next Generation Internet initiative from the EC. The project complies with the objectives of the European Blockchain Partnership signed April last year. Lewis clarified that from the total amount granted, 5.6 million euros would be distributed as cash to teams using decentralized technologies for data governance. The deadline for the first public call is the end of April.

Lewis touched upon the drive of the EC to foster blockchain initiatives. The EC had invested more than 80 million euros in blockchain projects related to society. By next year, the EC is expected to allocate an estimated 300 million euros to projects like LEDGER.

Earlier this month, IOTA Foundation shared the news that Zeux Payments would allow users to use MIOTA tokens as payment. The payments and banking services app Zeux had struck a bond with IOTA foundation on this venture. Merchants that accept Apple Pay and Samsung Pay would now support MIOTA tokens.

Lewis concluded by throwing more light on LEDGER. LEDGER is an alliance led by FundingBox, a growth catalyst company in partnership with Dyne, a free software foundry and BLUMORPHO, an innovation-focused company.