[IOTA Expands in Africa—Trade Giants and Governments Adopt TLIP]
Recently, IOTA has been making significant strides on the African continent. The Trade and Logistics Information Pipeline (TLIP), established by the IOTA Foundation in 2020, is being rapidly adopted by various trade giants and government agencies in Africa. TLIP is assisting in enhancing risk management and identifying supply chain vulnerabilities in collaboration with the World Customs Organization (WCO) and the African Trade Development Forum (ATDF). As digital trade progresses, Africa is at the forefront of this transformation.
[TLIP: At the Heart of Trade Innovation in Africa]
IOTA's TLIP is based on distributed ledger technology (DLT) and securely shares trade information in an immutable manner. This plays a crucial role in ensuring the authenticity of trade documents and identifying potential failure points in the supply chain. Additionally, TLIP contributes to reducing time and costs in international trade while mitigating risks associated with counterfeit physical documents.
These features of TLIP have resonated deeply in Africa. Notably, countries such as Kenya, Rwanda, and Nigeria are innovating their trade processes through the adoption of TLIP. For instance, the KenTrade node in Kenya has fully commenced operations, with the Kenya Revenue Authority (KRA) and the Kenya Trade Network Agency integrated into TLIP. This marks a significant milestone in the digitization and efficiency of African trade.
[Changes in Africa’s Digital Trade]
Previously, unstable payment systems limited Africa's digital trade potential; however, the emergence of technology startups and the development of innovation centers have changed this situation. Major cities like Nairobi, Lagos, and Cape Town are rising as hubs of digital trade, positively impacting African economies as a whole.
IOTA is now evolving beyond being a mere cryptocurrency platform, focusing on the tokenization of trade assets and data expansion. This innovative approach has been recognized in global markets such as the UAE, where it has received Sharia compliance certification, indicating that IOTA meets Islamic financial standards.
[Global Collaboration and Participation in EU Digital Identity]
IOTA is making an impact not only in Africa but also in Europe. It is currently participating in the EU Digital Identity pilot project, which has entered the proof of concept stage. By 2026, regulations require all EU member states to offer EU digital identity wallets to their citizens, indicating that IOTA's technology will play a significant role in the future European digital identity system.
[Changes Brought by TLIP]
The introduction of TLIP marks a significant change in enhancing the efficiency of trade in Africa and around the world. TLIP contributes to making global trade safer and more efficient through ensuring the authenticity of digital documents, identifying failure points in the supply chain, and reducing time and costs. The advancement of this technology on the African continent will serve as a crucial foundation for the expansion of the digital economy in the future.
IOTA is no longer just a cryptocurrency. With its innovative applications in digital trade, blockchain, and distributed ledger technology (DLT), IOTA is making a significant impact on the global economy, including Africa. As digital trade continues to develop, IOTA's technology is expanding, and the trade environment in Africa is rapidly changing.
Currently, IOTA is priced at $0.2302, boasting a market capitalization of $832 million. The future of IOTA looks bright.
This article does not constitute investment advice or financial recommendations. Cryptocurrency investments carry high risks, and the responsibility for any investment decisions lies solely with the investor.
