IOTA Founder Dominik Schiener Lists The Foundation’s Successes, Pushes Back Against Criticism

Schiener emphasized that IOTA has prioritized proving blockchain technology's utility beyond speculative trading

IOTA founder Dominik Schiener recently addressed criticism that the project has not seen much success in the past few years, except for minting a billion tokens. Schiener then listed IOTA's accomplishments, such as RWA tokenization, digital product passports, building the EU's blockchain infrastructure, and more.

Following the news of Aptos founder Mo Shaikh's departure, IOTA founder Dominik Schiener slammed the project, saying its primary goal was to extract maximum value from retail investors and pump the token so founders could cash out. In a scathing message, Schiener wrote:

“These people don't care about decentralization, they don't care about creating value or making their projects a long-term success. They just care about making money for themselves and are willing to do so at all costs. These founders are tourists in our community.”

However, one user on the X platform shared his criticism, saying that as the founder of the IOTA Foundation, Schiener did nothing last year except mint a billion coins "after failing to deliver anything for 7 years." "You've been centralized your entire existence," the user added.

Dominik Schiener, co-founder of IOTA, pushed back against criticism regarding the project's progress, saying IOTA has always focused on real-world adoption rather than speculative hype. He wrote:

“Only someone stuck with a 2017 view of IOTA would dare to say we haven't delivered anything. The big difference with IOTA is that we are one of the few projects that actually dared to put in the challenging work on real-world adoption use cases.”

IOTA Founder Dominik Schiener Lists The Foundation's Successes

Schiener highlighted that IOTA has prioritized demonstrating blockchain technology's usefulness beyond speculative trading, dedicating substantial efforts to practical applications. This approach, he argued, distinguishes IOTA from many other projects that prioritize token-driven gains over long-term innovation.

The IOTA founder also shared some real-world use cases the Foundation has solved over the past few years. These include:

Schiener emphasized that IOTA operates as a German non-profit foundation dedicated to enterprise and government adoption, resisting the trend of short-term profit-driven projects.

Overcoming Challenges and Looking Ahead

Reflecting on IOTA's journey, Schiener also acknowledged past challenges and mistakes. We learned a lot from failing and getting punched in the face. But unlike many other projects, we kept going, corrected our mistakes, and pushed forward,” he said.

He also addressed concerns about centralization, noting that IOTA's architecture has always prioritized transparency and user safety. The recent "Rebased" initiative aims to address remaining concerns while strengthening IOTA's decentralization, reported CNF.

“We never played the short-term game,” Schiener added. “We are here for the endgame of mainstream adoption where these networks host trillions of dollars in value.”

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