The IOTA Foundation is positioning its technology at the forefront of trade digitization in Africa through the newly launched Africa”s Digital Access and Public Infrastructure for Trade Initiative (ADAPT). During recent events in Johannesburg, co-founder Dominik Schiener articulated a forward-thinking vision to enhance Africa”s trading landscape, emphasizing the initiative”s potential to tackle long-standing challenges in cross-border commerce.
Schiener noted the increasing collaboration among public and private entities, describing ADAPT as a timely response to persistent structural issues affecting African trade. He highlighted the partnership with the African Continental Free Trade Area (AfCFTA) Secretariat, the Tony Blair Institute for Global Change, and the World Economic Forum as pivotal to establishing a unified digital infrastructure for commerce, identity verification, and payment systems across the continent.
AfCFTA Secretary-General Wamkele Mene characterized the initiative as a seminal moment, stating that it serves as the foundation for creating a cohesive and integrated continental marketplace. Mene elaborated that ADAPT is designed to eliminate fragmentation, foster trust, and enhance efficiency in trade, thereby addressing years of compliance duplication and logistical challenges that have hindered African businesses.
The IOTA network underpins ADAPT”s digital framework, facilitating the integration of identity credentials, trade data, and financial systems into a cohesive platform. This infrastructure allows seamless interactions among governments, ports, customs authorities, and enterprises, significantly reducing technical and administrative hurdles.
Apart from ADAPT, IOTA has made notable strides in increasing its practical applicability. Recently, the network improved its interoperability by integrating with LayerZero and Stargate on its mainnet, which allows for cross-chain asset and data transfers with leading blockchains, thereby supporting complex trade operations. Additionally, the accessibility to institutional custody has been enhanced, with BitGo and Zodia Custody offering regulated custody solutions for IOTA tokens, which facilitates greater participation from institutional investors and enterprise applications.
Looking ahead, projections indicate that ADAPT could potentially double intra-African trade by 2035, unlocking over $70 billion in additional trade value and generating approximately $23.6 billion in annual economic activity. Such advancements are expected to significantly lower the costs and duration associated with cross-border goods movement, while fostering transparency and trust among trading partners.
Currently, IOTA is trading at $0.09196, reflecting a daily increase of 1.47%, although it has experienced a decrease of 29.61% over the past week.
