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Netherlands to use IOTA For Administration of Legal Documents

The Netherlands and its government intend to use Blockchain technology in its everyday use. The Municipality of Haarlem had earlier announced that it is developing an IOTA based solution for administration of legal documents. The companies ICTU and XURUX are behind the project to verify legal documents within the ‘IOTA Blockchain.

Netherlands positive approach to blockchain

Bas de Boer, innovation manager of the municipality of Haarlem looks extremely optimistic about the same. He is also one of the initiators of this project. He said:

“By a figure of speech, we can deploy the application tomorrow. It enhances the technology and its adaptation in the public domain, improving society as a whole.”

According to him, the technology can be soon implemented and will become active very quickly.

IOTA over Bitcoin

The decision of choosing IOTA is not a random decision. Some problems from Bitcoin network like high energy consumption and slow transaction have been solved in case of IOTA. Also, IOTA has been released to be freely used by governments, the intention is to start using it in 2018.

Bosch is one of the interested firms in using IOTA. According to their statement, Bosch wants to increase the collaboration with IOTA and accelerate the present technology. Other enterprises that are collaborating with IOTA are Teutsche Telekom, Microsoft, and Fujitsu.

IOTA primarily focuses on the Internet of Things (IoT). Using a technology known as Tangle, IOTA reduces transactions fee to zero, the confirmation times are faster than in other blockchains. Also, the system can handle an unlimited number of transactions.

 

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