The post IOTA Foundation Plans to Bring Billions of Assets on-Chain through RWA Tokenization, Says Dominik Schiener appeared on BitcoinEthereumNews.com.

Dominik Schiener emphasized IOTA’s strategic shift towards Real-World Asset (RWA) tokenization, aiming to digitize billions of assets onto the ecosystem. Schiener emphasized IOTA’s pioneering use of Directed Acyclic Graph (DAG) technology, distinguishing it from other cryptocurrencies and enabling seamless collaboration with various entities globally. Collin Brown: Mr. Schiener, thank you for taking the time for this interview. Let’s start with a basic question: What inspired you to found IOTA? Dominik Sheiner: When crypto started to take off, it was driven by a strong ethos to cut out middlemen and give back control to its users. Bitcoin was a tremendous inspiration and paved the way for a whole industry that followed this ethos, but it became very apparent very early on that the underlying proof of work could not scale endlessly and, therefore, could not serve humanity. This realization led many to seek better technical solutions, which also led to the founding of IOTA. Collin Brown: How does IOTA differ from other cryptocurrencies and blockchain projects? Dominik Sheiner: All Distributed Ledger Technologies (DLTs) share fundamental principles, such as immutability. They primarily differ in how various aspects that make a DLT are prioritized, resulting in slight variations in outcomes. Consequently, the technology itself has, to some extent, become commoditized. I would argue that the IOTA Foundation stands out significantly, not only for its pioneering use of Directed Acyclic Graph (DAG) technology as the underlying data structure but also due to its unique positioning as a nonprofit foundation registered in Germany. While this status imposes regulatory challenges, it also provides significant advantages in applying the technology. We face no barriers in collaborating with corporations, governments, the European Commission, and other nation-states. Our operations under the vigilant oversight of the German government instill an enormous level of trust unmatched by any other project, which…

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Filed under: News - @ June 9, 2024 10:14 pm