IOTA has announced the launch of a $100 million Abu Dhabi Foundation to help drive IOTA technology adoption in the Middle East. The foundation, which is designed to facilitate IOTA’s use cases and introduce its technology solutions to the region, will be located in Abu Dhabi, the capital of the United Arab Emirates.
The foundation is a joint venture between IOTA and the Abu Dhabi government, and is partnering with companies such as Microsoft Azure, the Berlin-based IOTA Foundation, and companies from the Middle East such as Smart Dubai, the Abu Dhabi Smart City project, Neom, and the Sharjah Research, Technology, and Innovation Park.
Through the foundation, IOTA is aiming to create a network of adopters and developers of their technology in the Middle East. This will include their distributed ledger technology (DLT) solutions, which have already been deployed in shipping, healthcare, and automotive sectors. The foundation will also help foster innovation in the technology sector, as well as creating a regional hub for educational and training programs. Additionally, the foundation will support IOTA companies in the region with network expansion, accelerator programs, and go-to-market strategies.
As part of the foundation, IOTA will be providing support to government entities who adopt IOTA solutions. These include granting access to their distributed ledger technology for financial tracking, developing an IOTA-based digital identity layer, rolling out infrastructure for data exchange, and creating systems for building transparent, decentralized services and apps. This will be done through the IOTA Hub for Public Sector, which is a platform designed to make it easier for government entities to access and integrate IOTA’s DLT tech.