IOTA Foundation announced a new step of partnership with Trademark East Africa that focuses on paperless trades using the Tangle DLT. It’s another strategic step toward making paperless trade a standard in 2022. IOTA Foundation can pave the way for other blockchains to work more with government organizations, especially in developing countries. As part of the new partnership, an African entrepreneur is likely to fill in 96 documents, all on paper. The f=initial phases of the system will be tested with agencies in Kenya, but neighboring countries in the region will test it soon, too.
Using Blockchain for Efficient Trading Processes
One of the best benefits of blockchain for industries can be digitized with the most efficiency possible. It’s been years that governments and organizations are looking for ways to digitize their processes, but there always have been shortcomings in the tools and technologies. Blockchain has shown great capabilities in this part with solutions that can remove lots of traditional challenges. The most important benefit of blockchain in this section is security and speed. IOTA is one of the most active blockchains that move in this path by working with various organizations around the world and helping them move toward digitalization.
IOTA Foundation started a partnership with Trademark East Africa in March 2020 and is now extending it by providing products for dome countries in the region. The initial goal of the partnership was to solve the challenge of digitizing the process of Kenya’s exporters. Now the two organizations are aiming to move a step further and make paperless trade with the Tangle a standard in 2022.
The plan for extending the partnership between IOTA Foundation and Trademark East Africa is to expand the tests and run them in exports to UK, Belgium, the US, and so on. The African organization believes that IOTA can provide a practical solution in the digitizing process. Alban Odhiambo, Sr. Director Trade Environment, TradeMark East Africa, said:
“COVID19 challenged the project as travel became impossible. Despite many challenges, the IOTA Foundation has proven to be a steady partner in the development, and we are excited to enhance our collaboration with the IOTA Foundation”.
IOTA Foundation is building a local team in Kenya to be able to serve the partnership better. Seven people will work in the team on both technical and engagement goals. The next step for IOTA Foundation will be showing and promoting the results of the latest partnership with other government agencies around the world.
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