Government transportation department in the city of Austin, Texas partnered with nonprofit Iota Foundation

The government transportation department in the city of Austin, Texas partnered with nonprofit Iota Foundation to develop a more interoperable transportation ecosystem. The Austin Transportation Twitter account reported on the partnership on April 25.

The tweet contained a link to an event — which took place on April 29 — featuring Dominik Schiener, co-founder of the Iota Foundation, and local authority holders delineating the scope of the partnership.

During the meeting, the speakers describe their visions of a system in which every transit system can interact with the same payment app and a single digital identity. The speakers also suggest that this solution can be realized with Iota’s distributed ledger technology. Schiener stated that the only way to obtain such a frictionless and open value exchange system is to have a common, widely adopted standard.

Also read: New York-based digital asset manager Grayscale Investments has introduced its pro-Bitcoin advertising initiative “Drop Gold”

Source: https://cointelegraph.com/news/austin-transportation-partners-with-iota-foundation-to-develop-interoperability-ecosystem