IOTA Foundation has announced the launch of TWIN Foundation aimed at modernizing the global trading system. This project unites leading organizations to create an open and decentralized infrastructure.
Goals and Partners of TWIN Foundation
According to information provided by the IOTA team, the TWIN Foundation was launched on May 8 during the Digital Trade Forum in Lusaka, Zambia. The main objectives of the project are to address existing issues in global trade and create an accessible platform for all participants. To achieve this, IOTA has partnered with organizations like TradeMark Africa, the World Economic Forum, and the Tony Blair Institute.
Advantages of the New Infrastructure
The TWIN Foundation offers several benefits, including the use of digital identities and tamper-proof document trails. This will help eliminate the drawbacks of outdated trading methods based on paperwork and fraud. As Frank Matsaert, a TWIN board member, emphasized, "First of all, it’s Open Access. It’s not owned by anyone, no commercial interest, it’s independent, transparent, and secure."
Performance of the IOTA Network and Achievements
The IOTA network has shown stability, reaching 100 days without downtime after upgrading its mainnet. During this period, approximately 170 million transactions were processed. In May, IOTA also introduced the Rebased Protocol, boosting throughput to over 50,000 transactions per second, garnering interest from market participants.
The launch of the TWIN Foundation represents an important step towards transforming global trade through the adoption of decentralized technologies and open data standards.
