IOTA becomes an industry partner of the TU Vienna research group

A new research project at the Vienna University of Technology has dedicated itself entirely to the topics of interoperability, blockchain and IoT. The IOTA Foundation is involved in the long-term project – and does not just want to advance its own network.

The IOTA Foundation has joined the newly founded DLT research group at the Vienna University of Technology (TU Vienna) as an industrial partner

The group is part of the Christian Doppler Laboratory Blockchain Technologies for the Internet of Things (CDL BOT) and researches the interface between the Internet of Things (IoT) and distributed ledgers-Technologies (DLT) such as blockchain or the Tangle from Immediate Bitcoin. As the latest addition to the Christian Doppler Research Association, the project is financed by state subsidies. Margarete Schönbock, Federal Minister for Digitization and Business Location, also made the opening on November 26th.

IOTA co-founder Dominik Schiener is pleased in a corresponding blog entry the IOTA Foundation on the cooperation:

We are honored to be part of this long-term research project and thank the Christian Doppler Gesellschaft and the Austrian Federal Ministry for Digital and Economic Affairs for recognizing and supporting the enormous potential of blockchain and distributed ledger technology for building a more transparent, trustworthy and networked one Economy.

However, IOTA is not the only representative from the blockchain industry to have joined the venture. The Austrian Bitcoin exchange Bitpanda is also involved in the project: with its research arm Pantos.

In order to take the industry to the next level, the interoperability of blockchains and the integrity of data should be the top priority. We believe that our partnership with the Christian Doppler Gesellschaft, the Austrian Federal Ministry for Digital and Economic Affairs and the IOTA Foundation allows us to stay at the forefront of interoperability development, one of the greatest complexities in this young but steadily maturing industry to solve,

Bitpanda CEO and co-founder Eric Demuth is quoted in the press release.

IOTA + X: focus on intercompatibility

The economist and programmer Prof. Dr.-Ing. Stefan Schulte. Schulte also emphasizes in his statement the importance of interoperability for the future prosperity of decentralized networks and the Internet of Things:

With the increasing number of potential applications for DLT-based payments and data exchange in the Internet of Things, new DLTs need to be integrated and interoperability between different DLTs becomes necessary. I look forward to […] finding new solutions for this highly topical issue together.