IOTA founder David Sønstebø reveals contradictory details split with the IOTA Foundation but insists it is not broke

In a statement on December 11, the board of the IOTA Foundation revealed IOTA founder David Sønstebø was removed from the organization after a consensus vote by the board. It is known that Sønstebø has been a co-chairman of the IOTA Foundation since 2017. And recently, Sønstebø has sought to reassure people.


David Sønstebø, IOTA founder 

IOTA Foundation is not broke – David Sønstebø said

According to Sønstebø, IOTA Foundation is not broke. Furthermore, he revealed the plans for the ecosystem that are being cherished in collaboration with investors, individual DLT project leaders, community developers, and others. other.

Sønstebø’s blog post attempted to clear up any ambiguity about IOTA’s announcement. According to him, the announcement from the IOTA Foundation was extremely clumsy, panic, and downright unprofessional, facilitating rampant speculation. His own post, however, may pose more questions than answers.

The founder made it clear that:

“The split between me and the IOTA Foundation was not the result of the contradiction between my interests and that of the organization. And that such characterization is a blatantly false, dubiously motivated, and defamatory depiction of my person.”

Nonetheless, later in the post, he describes a pair of disagreements that provided a fertile environment for the past drama to fester, including an instance where his internal campaign for the Foundation to appoint a CEO was quashed by the IOTA Foundation board, as well as disagreements about the ownership of several future IOTA ecosystem projects, including governance of the committees in IOTA Smart Contracts, Oracle-as-a-Service and Decentralized-Infrastructure as a Service.

Sønstebø says:

“The Board started panicking about its negligence of the IF’s finances. And that they subsequently stepped in to claim these projects to ensure an ever-growing runway at the cost of IOTA’s ecosystem actually growing. I refused the board to take ownership of these projects. and their potential future revenue streams. This disagreement is the reason behind the separation. There you have it, my diverging interests. ”

After that, Sønstebø continued to personally speak to many Board members, asking one person to stop introducing himself as a co-founder, dressing others for begging token, and not participating in meetings. and invite someone to drink and play chess at any time.

He concluded:

“There will be further details on my plans for IOTA coming early next year. Don’t worry. I will continue to work on IOTA with Foundation members, community members, and external partners. This is not the dot at the end of the final chapter’s last sentence; it’s merely a comma.”

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