Germany-based IOTA Foundation and LATTICE80, the world’s largest fintech hub with headquarters in Singapore plan to open an innovation lab with the Germany-based IOTA Foundation.
The companies have signed a memorandum of understanding in November to consolidate their mutual commitments.
The goal of the innovation lab will be to explore mutual interests between ecosystems and run joint initiatives on blockchain technology, cryptocurrency and IOT. The IOTA Foundation and LATTICE80 will run independent and joint activities to study these technologies to the community through meetups, demo days, IOTA Lab sessions, and more.
IOTA is a global leader, advocate, and evangelist of these new technologies. We are happy to partner with IOTA to develop joint venture projects under a new innovation lab, and look forward to partnering with even more fintech startups as we grow internationally.
Joe Seunghyun Cho
Founding CEO, LATTICE80
IOTA has already designed their Blockchain technology, called IOTA Tangle, which is considered to be an innovative type of DLT specifically for the IoT environment. It is an open-source protocol facilitating Machine-to-Machine interactions, including secure data transfer, fee-less real-time micro-payments, and the collection and dissemination of sensor-based and other types of ‘oracle’ and other data.
Recently, one of the largest cryptoexchanges in South Korea, Coinone, made an announcement stating that it will add support for IOTA on November 28 of 2017 and build a partnership with IOTA foundation.