Thread by @ScopeDefi

@SPYCE_5 Launches as the First #IOTA Foundation Spin-Off Entity.

Experience High Scalability & Energy Efficiency with SPYCE.5's Tangle Architecture.

Let’s dive into the new addition to #IOTA’s evergrowing ecosystem👇🏼🧵

#Shimmer #IOTA $SMR #SPYCE.5 @iota @shimmernet

What I will be covering in this thread

-Introduction
-Background
-Benefits of SPYCE.5
-Unlocking the Potential of Automation
-Sustainable Web3 as a Service
-Conclusion

Introduction

SPYCE.5 is a new spin-off entity of the IOTA Foundation that offers blockchain and Web3 infrastructure, data, and digital identity as a service for enterprises, builders, creators, and developers.

It is co-founded by two former IOTA Foundation executive directors and an active member of the IOTA community.

Background

Last year, the #IOTA Foundation announced plans to spin out internal projects and solutions into independent entities.

SPYCE.5 is the first entity to be launched as a spin-off of the foundation.

Benefits of SPYCE.5

#SPYCE.5 offers two major benefits to organizations: frictionless data flow and automation.

By combining digitalization and blockchain, businesses can securely store and manage digital identities, while automating identity verification processes.

@SPYCE_5 offers a managed SaaS platform that enables companies to easily build and maintain real-world products, applications, and use cases such as creating digital identities or exchanging real-time data securely between multiple parties.

Unlocking the Potential of Automation

IOTA's Tangle architecture offers high scalability, feeless transactions, and energy efficiency. This innovative approach is expected to surpass traditional blockchains, resulting in increased security, scalability, and shorter transaction times for businesses.

SPYCE.5 builds on IOTA to deliver global automation by connecting all market participants directly without intermediaries, thereby increasing trust in underlying data.

Holger Köther, Co-Founder of SPYCE.5, explains that the Market Adoption team at the #IOTA Foundation worked with several grant consortia and enterprises on developing Proofs of Concepts.

They realized that progress and momentum tend to slow down within organizations without the necessary tooling and services to support continued development.

SPYCE.5 was born from these insights and helps companies realize the full benefits of the technology both during and after development.

Sustainable Web3 as a Service

With its B2B platform, SPYCE.5 addresses two core groups: builders, creators, and developers, and enterprises and corporate developers.

Builders will benefit from SPYCE.5's services which include hosting infrastructure, scalable APIs, and management of digital identities, #NFTs, and tokens across the #Shimmer and @iota ecosystems.

Enterprises lacking expertise in bringing their Web3 products to market quickly and safely will benefit from SPYCE.5's platform which aims to reduce the time and cost of implementation.

SPYCE.5's services include secure data spaces, interconnected blockchain utility for consortiums, and direct payments in EUR, decreasing the risk for organizations to manage and handle crypto payments directly.

Conclusion

@SPYCE_5 offers significant value to enterprises, builders, and creators by reducing the complexity of building on Web3 by offering integration with simple APIs as a Service to integrate into.

This reduces costs and enables developers to focus on what's important – creating and scaling their core business applications to millions of users without worrying about managing and maintaining the complex underlying backend infrastructure

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