IOTA founder settles his accounts – Cryptocurrencies

IOTA founder David Sonstebo

The rag is burning between David Sønstebø – the founder of IOTA – and his board of directors who were quick to remove him from the organization earlier this month. The strong decision that had been announced by the board naturally displeased the interested party who exercised a right of reply. While the approach was initially aimed at clarifying the situation and reassuring the community, it quickly turned into a settling of scores. The man who has headed the foundation since 2017 therefore intends to fight to regain his original place.


A clumsy ad panicked and unprofessional

After the foundation’s board of directors IOTA unanimously voted to withdraw its founder, the latter did not hide his disappointment with the form used to relay the decision. In particular, he described it as ” clumsy, panicky, and downright unprofessional, leaving plenty of room for frantic speculation “. In a sometimes crude style, he then took the liberty of replying in turn to clarify certain points. He explains in particular that the disagreements between the council and him were not not due to the existence of conflicts of interest with the organization. He also considers that this representation which was made of the thing is manifestly false, with questionable and defamatory motives against his person.

He nevertheless admits that certain problems have arisen between the members and him concerning technical and human aspects. This is particularly the rejection of his candidacy for the position of CEO of the foundation by the board of directors. The second important point would be disagreements over future projects of the IOTA ecosystem such as cost-effective governance of committees in IOTA Smart Contracts, Oracle-as-a-Service and Decentralized-Infrastructure as a Service. Mr. Sønstebø claims to be opposed to the board of directors taking ownership of these projects and their potential future sources of income.

Mr. Sønstebø settles his accounts with everyone and announces the suit for the rest

After this update, Mr. Sønstebø Could not help but address a few pikes at the members of the council that ousted him. After asking one of them to stop promoting himself as an IOTA co-founder, he described another as a beggar of tokens who shone with his absence from council meetings.


Finally, Mr. Sønstebø spoke of his future, which he does not see written far from that of IOTA, to whom he still hopes to make a contribution. “There will be more details on my plans for IOTA early next year.. Do not worry. I will continue to work on IOTA with Foundation members, community members and external partners. This is not the end of the last sentence of the last chapter; it’s just a comma »He concluded.

It’s a safe bet that this exit will lead to another on the part of the foundation’s board, especially after some members have been scratched. The soap opera between the two parties should therefore continue, even if it would be preferable if they quickly find common ground.


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