IOTA Advances Supply Chain Transparency With TWIN’s Updated Trade Architecture
- The release of TWIN’s Version 1.0 standardizes data exchange on open protocols without dependence on proprietary platforms.
- IOTA’s mainnet now registers verifiable trade documents, boosting traceability and automation in global trade.
The TWIN Foundation has released its version 1.0 reference architecture, which establishes a base layer for digital trade systems. TWIN is a supply chain and international trade data sharing model that is based on a decentralized network by IOTA to support secure and standardized data exchange along the supply chain. The system assists in transparent, scalable, and privacy-preserving data exchange under an open-source framework.
There are several structural changes implemented in TWIN’s new architecture. The data plane is now based on W3C Linked Data Notifications and ActivityPub. This allows push notifications to be generated by the provider, a crucial attribute in a process such as the Digital Product Passport, where the manufacturer requires push updates provided by the third-party repairers or handlers.
The platform has been harmonized with the Eclipse Dataspace Protocol. This integration allows it to be compatible with IDSA and Gaia-X, and EU Data Spaces, eliminating previous system barriers. The data contract negotiations are structured in a state machine and follow a specific set of phases between an offer and an agreement. Subsequently, the formalization of permissions in cross-border data transactions is formalized, and the usage rules are embedded with Open Digital Rights Language (ODRL) policies.
TWIN’s Enhanced Identity, Interoperability, and Integration Features
TWIN is open source, enhancing decentralized identity systems using the IOTA Identity system and is assessing the Eclipse Decentralized Claims Protocol to handle the credentials of participants and verifiable claims. The design provides an alternative to the OpenID-based systems, which are more secure and offer additional authentication options.
The revised catalogue model has been developed with the DCATv3 vocabulary of W3C, and eliminates reliance on Gaia-X Loire components. This modification will make sure that data offerings are machine-readable. and available in the TWIN federated catalogue. Adaptors are also perfected and connect external, in-node, and hybrid systems to integrate with customs or EU eFti and without replacing legacy infrastructure.
According to the ecosystem update, document types that can be registered and verified on the IOTA-based TWIN network include trade documents like invoices and declarations, product and trade certificates, transferable electronic records such as electronic bills of lading, regulatory compliance files, digital product passports, ESG and sustainability evidence, and trade finance workflows.
A separate source reported that the registration of documents on the IOTA mainnet is already underway, and it generates transaction flows in relation to real-world trade activities. It highlighted how the platform can document millions of transactions that are a result of trade logistics and compliance.
In another related update, IOTA included Kalalohko in its Business Innovation Program to enhance the tracking of seafood supply chains. Kalalohko will implement IOTA Identity and IOTA Notarization to confirm the origin of the products and automate user payments with the help of the IOTA Gas Station.
At the time of reporting, IOTA was trading at $0.08028, a 4% decline, with a market cap of $342 million and a 24-hour trading volume of $25.6 million.
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