We are thrilled to announce the official launch of the IOTA Foundation as a registered not-for-profit entity (“gemeinnützige Stiftung”) under German law. After more than a year of painstaking preparatory work, the Foundation was officially incorporated in Berlin on November 3rd by signature of the State Secretary for Justice. We are exceptionally proud to become the first fully regulated not-for-profit foundation in Germany to be capitalized with a crypto-currency (IOTA Tokens).
We first and foremost want to acknowledge and thank our visionary and diverse community, who supported the initial effort of IOTA since the early days in 2015 and subsequently donated towards establishing the IOTA Foundation. Without the active grassroots support, IOTA would not exist as it does today. Beyond that, we want to extend our appreciation to the folks at Winheller and EY, who have been our legal representatives over the past 12 months assisting in making this a reality. Finally, we express deep gratitude towards the IOTA co-founders and all of the IOTA Foundation members and advisors that have been integral in shaping it and acting as a catalyst at global scale.Milestone
Since the inception of IOTA, we have unabashedly done things differently. Everything we do is based on a comprehensive long-term perspective in mind to achieve mainstream adoption and to become the backbone of the Internet of Things and Web 3.0. Exactly because we want to achieve maturity of the technology and the ecosystem as fast as possible, we have chosen Germany as the jurisdiction of the IOTA Foundation.
It may seem counterintuitive to go through the painful process of becoming a regulated non-profit entity in Germany, especially when considering “easier” alternative options in other jurisdictions. But subjecting ourselves to the onerous oversight of one of the world’s most respected governments, within the heart of the EU, will give IOTA an unparal...