IOTA utilizes blockchain technology and Web3 incorporated through its Trade and Logistics Information Pipeline (TLIP) to reshape global trade. Recently, IOTA’s TLIP is expanding across Africa, the United Kingdom and Asia with its Real-World Asset (RWA) decentralized apps (dApps).
The RWA dApps will enable digital certificates of origin for verification, smart contracts for trade financing, supply chain tracking with IOTA technologies, etc. These would apply in several sectors like agriculture, manufacturing, and logistics.
Notably, this initiative is transforming trading worldwide, and IOTA’s founder, Dominik Schiener hints at new TLIP RWA dApps in the works. “Look at what we are doing with TLIP. Started in Kenya, now building in UK and across Africa and Asia. Some exciting new RWA dApps coming up soon,” said the IOTA founder in a post on X
Accordingly, the platform has collaborated with several organizations to achieve its revolutionary objectives. TLIP’s partnership with Trademark Africa launched in 2020 and aimed to digitize global trade during the pandemic.
Currently, the project is expanding beyond East Africa to the rest of the continent, Asia and Europe. Significantly, TLIP has been approved by government regulators in East Africa including the Kenya Revenue Authority (KRA).
TLIP Expands into RWA dApps: Benefits
The protocol’s expansion into RWA dApps marks a significant milestone for IOTA. Notedly, the expansion strengthens the tech company’s lead in blockchain-powered digital trade and the global logistics solutions industry.
First, TLIP is streamlining UK-European Union trading, increasing logistics efficiency and transparency while reducing costs. Also, its presence in Africa and partnership with local organizations will enhance trading efficiency through RWA dApps utilisation.
Meanwhile, this development will address the needs of traders worldwide by improving access to affordable trade financing. Significantly, it will also optimize maritime transport which constitutes 80% of global goods logistics.