IOTA
$0.44965 0.44%

Dom Interview with Yahoo Finance

IOTA’s had a decent share of negative press. But, to be fair, what self-respecting cryptocurrency hasn’t? From scathing attacks on the security of its Tangle architecture to PR gaffes around unfounded claims of IOTA price surges, the team of four co-founders hasn’t had it all easy.

But speaking in a quiet corner at the Paris Blockchain Week Summit, co-founder Dominik Schiener is confident and calm. He’s clearly proud of everything the ambitious IoT blockchain start-up has achieved in the last 12 months.

Dominik Schiener, IOTAMore

Dominik Schiener, co-founder, IOTA

“One thing to realise”, he says, “is that IOTA has matured a lot over the last year. We had some problems in 2017, with the technology, with the organisation, with Twitter fights… But over the last year, I think we’ve progressed probably further than most other projects. We now have more than 100 employees in 23 countries.”

Scaling a company and growing is no easy feat in the midst of the crypto winter. But that’s exactly what IOTA has done, winning a grant with a consortium of the European Commission in excess of €20 million for the development of smart city applications built on IOTA. Schiener explains:

“So we have a partnership of seven cities, and we are now setting up testnets. The first one has been set up in Trondheim, so we have already been publishing some of the results there. We have a building that we are now also trying to figure out which use case we can develop…

“This is really where blockchain needs to go. It’s no longer just about doing proof of concepts and simple use cases, it’s about doing testnets and large-scale deployment to figure out what works and what doesn’t.” IOTA’s partnerships are continuously growing

Beyond smart cities in Norway, supply chains, and energy projects in France, IOTA is also gaining traction in Germany. Schiener points out: “A good example is that last month at the Hanover Messe, which is the biggest trade fa...

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