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IOTA’s Dominik Schiener and the UAE Minister of State for Foreign Trade to Discuss Billion-Dollar Project to Drive IoT and DeFi in the United Arab Emirates



The IOTA Foundation has always been at the forefront of undertaking key initiatives addressing some real-life use cases and applications. As a result, IOTA has been working along with governments to solve several infrastructure-related problems and build a robust ecosystem.

In one such development, Thani Al Zeyoudi, the UAE Minister of State for Foreign Trade conducted a meeting with IOTA co-founder and chain Dominik Schiener to explore ways in which IOTA’s open-source blockchain solution will help empower UAE’s digital ecosystem.

UAE seeks to tap into the IOTA blockchain’s ability to power a wide range of sectors which could play a vital role in the country’s advanced technology ambitions. Although the UAE Minister of State announced working with IOTA, he didn’t disclose many details about the different scopes of projects that they would be working on.

IOTA remains the preferred network for governments and corporates to deploy large-scale projects since the blockchain is fast, reliable as well as very environmental-friendly. IOTA, an open-source distributed ledger technology, uses a Directed Acyclic Graph (DAG) structure, which enhances scalability and enables utilization in various industries such as healthcare, automobile, and smart city infrastructure.

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