Dominik Schiener from the IOTA Foundation commented that the current low prices on the market are also heavily influencing the IOTA foundation and the further development of the platform. Let’s find out more about the following IOTA news.
IOTA itself has other alternative financing options, so the platform is not at risk, but the crash on the market influences it. The current situation on the cryptocurrency market is not only hard for investors but also for the crypto projects themselves. If the plans get financed by their tokens and pay the developers and employees, the low prices are becoming a burden. While the price remains low, more of the symbols have to pay the bills for employees, and IOTA is facing this problem as well.
From a technological point of view, IOTA is quite promising, and its technology is still under development. With Qubic and Coordicide, the projects that promise further acceptance and a vast range of applications are still not completed. It is even more important than the development continues with the schedule. Christian Muller of the HelloIOTA Roundup talked with Dominik Schiener about how the IOTA foundation will be dealing with the current situation, and one of the co-founders of IOTA explained that the case is a huge challenge but that the roadmap of IOTA will not be affected.
The current market situation is terrible for the entire industry but the global economy as well, and everyone has to work on other plans to mitigate risks.
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The primary objective is the long-term sustainability of the IOTA Foundation while making sure that the execution and roadmap will remain unaffected. As Dominik Schiener further explained, the IOTA Foundation is extremely careful about the spending of the tokens, and they are trying to find a way for alternative financing options. The only good thing about the situation is that it will open a new way of raising funds. This way, the foundation can avoid the treasury of IOTA, and the foundation will provide more information by the guidelines:
‘’We are making good progress an on this and as soon as we have a definite answer, we will obviously communicate it to the community.’’
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