IOTA founder Dominik Schiener has recently addressed criticism regarding the project’s progress, emphasizing the Foundation’s commitment to real-world use cases and enterprise adoption. He criticized projects that prioritize short-term profits over decentralization principles, accusing some founders of exploiting retail investors. In contrast, Schiener highlighted IOTA’s long-term vision and success in areas such as RWA tokenization, EU blockchain initiatives, and circular economy innovations.
Schiener pushed back against claims that IOTA has not delivered anything significant in recent years, pointing to the Foundation’s focus on practical applications and real-world adoption. He emphasized that IOTA has always prioritized utility over speculative trading, setting it apart from projects that prioritize token-driven gains. Schiener also listed some of the Foundation’s successes, including its involvement in Kenya trade digitization, global trade standards, RWA tokenization, EU blockchain initiatives, and circular economy innovations.
Reflecting on IOTA’s journey, Schiener acknowledged past challenges and mistakes but noted that the Foundation has learned from them and continued to push forward. He addressed concerns about centralization within the project, highlighting the “Rebased” initiative aimed at reinforcing decentralization and transparency. Schiener emphasized that IOTA operates as a German non-profit foundation focused on enterprise and government adoption, resisting the trend of profit-driven projects.
Despite criticism from some users, Schiener defended IOTA’s approach and commitment to long-term success. He criticized projects like Aptos for focusing on extracting maximum value from retail investors and pump their tokens for short-term gains. Schiener highlighted IOTA’s dedication to creating value and making projects a long-term success, contrasting it with founders who prioritize their own financial interests over decentralization and community well-being.
In conclusion, IOTA founder Dominik Schiener’s response to criticism highlights the Foundation’s focus on real-world adoption, practical applications, and long-term innovation. He emphasized IOTA’s successes in various initiatives and partnerships, showcasing the Foundation’s commitment to enterprise and government adoption. Despite past challenges, Schiener remains confident in IOTA’s vision and its potential for mainstream adoption, positioning the project as a leader in the blockchain space.
