IOTA And SinoPac Holdings Teamed Up To Join Efforts With Tangle Technology
IOTA (MIOTA) transactions are carried out on a distribute ledger without blocks known as Tangle Technology, which runs with no fees and provides decentralized P2P transactions. IOTA teamed up with SinoPac Holdings to join efforts to innovate on the Tangle Technology.
SinoPac Holdings is a Taiwan-based financial holding company which works thoroughly on its own blockchain. However, SinoPac accepted to sign an MOU (Memorandum Of Understanding) with IOTA to boost ahead faster.
The MOU is immediately active and offers SinoPac the opportunity to test the IOTA Tangle Technology.
“IOTA is thrilled to see SinoPac take their notary certification platform to the next level. It not only demystifies IOTA’s potential to use the Tangle in a wide variety of corporate products and services but also demonstrates the increasing practical and real-world usage of distributed ledger technology in the financial sector,” stated Wilfried Pimenta de Miranda, the Director of IOTA’s business development department.
IOTA and SinoPac Holdings partnership is one big step forward for the Taiwanese company
Right after the last details were set and the deal was done, SinoPac Holding conducted its first duty on the IOTA (MIOTA) Tangle Technology. The Taiwan-based company emitted an iCertificate, a notary act that integrates Tangle and its apps.
This certificate will be used with every digital act and document, will secure private data better, and will be accessible from anywhere. Also, using a hash connected to the users’ keys on the IOTA (MIOTA) network, SinoPac guarantees users’ privacy.
“Certificate is an always needed notary service in the digital certification application, not only in education or public utility territories but in trading and supply chain industries,” explained Tina Chiang, Senior Executive VP and Chief Officer of Technology at SinoPac Holdings.
Assisted by IOTA Tangle Technology, SinoPac Holdings can now use digital documentation and certification for both individuals and businesses and can offer flexible products and services for their clients.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.