• IOTA’s spin-off entity SPYCE.5 is now available in the open beta as users can start enjoying the node-as-a-service on the Shimmernet.
• SPYCE.5 will help organizations that are willing to explore the world of Web3 by significantly reducing the time and cost of implementation.

The IOTA Foundation has moved a step ahead in accelerating the enterprise adoption of IOTA as well as the shimmer network. To achieve this mission, the IOTA Foundation announced a spin-off entity last month dubbed SPYCE.5.

In the latest update, SPYCE.5 said that they have opened up the beta version wherein users can sign-up on their platform and enjoy the node-as-a-service on the Shimmernet to start a synced node within less than 5 minutes.

This development shows that the IOTA network is actively pursuing a move in the institutional space and has been following up with the development. The SPYCE.5 platform features an enterprise-ready blockchain infrastructure along with offering data management options, Web3 tools, and much more.

This streamlines the process for enterprises to build real-world products, applications, and use cases such as creating their digital identities along with exchanging real-time data securely between multiple parties. Additionally, SPYCE.5 also gets to benefit from some of the key IOTA features such as shorter transaction times, increased security, as well as higher scalability. It will also allow businesses to connect directly depending on third-party intermediaries.

Since SPYCE.5 allows all market participants to interconnect in a decentralized environment, organizations can improve efficiency, support faster settlements, as well as improve the overall customer experience. Thus, developers can focus on things that are actually important while reducing costs significantly. They can focus on building core business applications rather than worrying about the backend infrastructure.

SPYCE.5 benefits and Web3 services

One of the major advantages of the SPYCE.5 platform is that it offers automation and frictionless data flow capabilities for its users. While building on IOTA, SPYCE.5 offers business automation capabilities at a global scale wherein they can directly interact with each other in a decentralized manner and thus increasing trust in the underlying data.

Furthermore, it offers frictionless data flow to businesses by automating manual processes, enhancing security, and reducing other risks. Businesses can also leverage the power of blockchain technology for storing and managing digital identities securely. SPYCE.5 can also help in automating verification processes such as KYC.

Furthermore, SPYCE.5 will help organizations that are willing to into the world of Web3 by significantly reducing the time and cost of implementation. Kimmo Nurmisto, Co-Founder of SPYCE.5, said:

With our extensive experience in corporate innovation and deep knowledge of distributed ledger technology, we can help companies build solutions that improve operational efficiency, enhance data security, and lower infrastructure costs.

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