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IOTA announces that it will be launching a Tangle-powered ID system

IOTA’s will be working with Taipei’s municipality to develop and introduce the world’s first blockchain identification system to be used for governmental purposes.

IOTA will be deploying a newly developed Tangle identification system later this year in the Taiwanese city of Taipei, according to Jim Huang of the blockchain development company BiiLabs.

This new release will see the cryptocurrency’s network used in an entirely new way and will be able to develop an innovative virtual identification system. The idea of the concept dubbed the Digital Citizen Card was born out of a partnership between IOTA and Taipei’s municipality at the beginning of this year and is the first project in a series to create a “Smart City Living Lab.” This innovation is the first of its kind since it is a blockchain-based ID system which will be used by the state.

This project will help reduce identity theft and blockchain voter fraud as well as having the potential to be used in other fields for important data sharing for files such as medical documents.

The Commissioner of the Department of Information Technology in Taipei, Wei-bin Lee, has also weighed in on the news, saying:

“IOTA is one of the innovative players in the cryptocurrency world because of its unique technology. With Taipei City always thinking ahead and with IOTA’s technology, this partnership is a strategic move to usher in the era of smart cities to the citizens of Taipei. We welcome the IOTA Foundation to Taipei City and are excited to embark on the future together.”

David Sønsteb, the co-founder of the IOTA Foundation, is thrilled at the partnership:

“We are so excited about teaming up with Taipei City. It proves that our next-generation technology is ready for real-world use cases and is more than just a theory. We’re just beginning to scratch the surface of the effect IOTA can have on making the world of IoT ever-more connected and paving the way for not just smart cities, but a smart world.”

Currently, IOTA is down by 2.39% day-on-day and is presently trading at $1.20 USD.