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- IOTA has announced the formation of the TWIN Foundation to manage the technical development and the standardisation of the ecosystem.
- Analysts have predicted that the IOTA could continue its bullish momentum to breach a key psychological level.
IOTA has formally unveiled the formation of the TWIN Foundation at the AfCFTA Digital Trade Forum held in Lusaka, Zambia. According to the announcement, this initiative marks a significant step towards the development of a more inclusive, efficient, and transparent global trade ecosystem.
Explaining this formation, the IOTA communication team highlighted that the TWIN Foundation was established by six organisations – the Chartered Institute of Exports and International Trade, TradeMark Africa, the World Economic Forum, the IOTA Foundation, the Global Alliance for Trade Facilitation, and the Tony Blair Institute for Global Change.
This development also follows the Collaboration Agreement signed in February 2024 to enable the founding partners to work extensively towards the achievement of the initiative’s vision.
Today’s launch of the TWIN Foundation cements this mission with the governance and leadership needed to make TWIN a lasting, global public good. It ensures that TWIN’s infrastructure is stewarded responsibly, remains publicly accessible, and can scale sustainably.
Role of the TWIN Foundation
Further reviewing the official blog post, CNF discovered that the TWIN Foundation would oversee the management of the technical development, as well as the standardisation of the ecosystem. Specifically, the TWIN Foundation would focus on:
- Standards and best practices: Develop and implement standards applicable to distributed ledger technology.
- Custodian of core infrastructure: Managing technical and operational design.
- Non-profit and open source: Making TWIN available as an open source digital infrastructure for the public good.
- Ecosystem support: Sharing Knowledge and best practices with builders.
- Sustainable model: Implementing fundraising and cost recovery strategies.
- Build networks of success: Establish partnerships with organisations and institutions.
The deployment of TWIN has been one of the most effective and sustainable projects of IOTA. It was designed to ensure that global supply chains can instantly and securely share data.
Over the years, it has assisted governments by offering improved visibility and smarter border management. Additionally, TWIN has helped the private sector gain exposure to new efficiencies and business opportunities while helping innovators with a framework to build a new digital trade service.
As indicated in our previous coverage, TWIN emerged as one of the most widely discussed topics at the recently held “IOTA East Africa Web3 Innovation Summit” in Nairobi, Kenya.
For the overall growth of the ecosystem, IOTA has also completed the mainnet launch of its Rebased Protocol, unlocking full programmability and staking. As discussed earlier, the project is now at almost the same level as Aptos and Sui with the integration of Movevm and EVM.
At press time, IOTA was trading at $0.239 after surging by 9% in the last 24 hours. According to our recent analysis, the asset could soon breach the $0.28 resistance level to hit $0.3.
