The IOTA Report Card
The full article was originally published by HelloIOTA. Read the full article here.
The going rate for IOTA tokens, which originally started as a hardware project, is subject to market forces along with every other commodity on the planet. The public’s awareness of the project seemed to coincide with the climax of the crypto markets in January 2018, and since then it seems as though rationality has finally begun to be restored. There are many factors that influence the confidence of a DLT’s user base, a large one being the perceived trustworthiness of a project and its developers. Check out this report about the situation at Gamecredits, for example. If promises aren’t kept, trust can and should quickly erodes, as is the case in every other domain of business and technology.
It’s important to remember that the IOTA Foundation is only one part of the burgeoning IOTA ecosystem, and that the project as a whole isn’t completely reliant on the IF to drive production and adoption. A grassroots community effort to develop the code and spread the idea is integral to the long term success of IOTA, as is the case with all open source software projects. Nonetheless, it’s true that the IF has been a dominant player in IOTA’s development thus far, so let’s examine the Foundation’s productivity over the first half of 2018 – a “report card” for the project, if you will.
At the end of 2017, David Sonstebo said the following:
We’ll be delivering the final papers to the Behörde tomorrow, so all of that is ready. Expect an official announcement within days/week. After that we’ll be hiring 30-50 new devs and researchers until the end of the year. IOTA is going into hyperdrive There will be a big announcement soon of the projects thus far accepted into the EcoSystem.
Here’s a recap of the events that followed this comment:
- The IOTA Foundation was registered as the first crypto not-for-profit entity under German law.
- Since New Year’s Day, 34 new members have been added to the IOTA Foundation. This validates Sonstebo’s comment about hiring “30-50 new devs and researchers”.
- Various key figures have joined the Foundation such as Johann Jungwirth (VW, he will be working for VW in Silicon Valley), Dr. Rolf Werner (formerly Fujitsu and at the moment joining a new company), Anes Hodzic (Airbus), Michael Nilles (Schindler) or Dr. Richard Soley (Industrial Internet Consortium) to just name a few.