Yesterday, it emerged that there were issues between the IOTA Foundation and the Semko brothers. The whole issue is that the SEMKO brothers possibly misled the community into believing that what they were building was for the community, only to turn out to be a commercial technology that has nothing to do with IOTA, even though they received donations from the IOTA community. As per a transcript by a Redditor with regards to an IOTA discord communication, David Sonstebo expressed his disappointmentwith the brothers. In part of the conversation, he stated that,
“You exploited the IOTA brand by renaming yourself to “IOTA Dev” and proclaiming to be “Tangle Researchers” and gaining a significant following based solely on this while behind the scenes you were circulating a pitch deck. In this secret pitch, you make false claims of having “betterthan IOTA” tech and talking about an entirely new token, all the while stringing the community along, accepting their donations, having them supportyour work under the guise of it being for IOTA. It is this betrayal that is thereason why the community is pissed off.”
The Semko’s have offered their version of events on Twitter,though it doesn’t seem to have satisfied the community.
In spite of all this drama,the IOTA foundation is able to maintain its focus in building IOTA. For instance, the foundation continues to bring in new talent to beef up the team. Today, they have announced the entry of Julia Schulz to the team. Julia will be joining the IOTA team as an assistant to the board. Julia adds to the impressive list of A-list talent that is joining the IOTA team. This goes to show that the IOTA Foundation believes in the long-term growth of IOTA. That’s why they are beefing up the team to meet the long-term needs of the market, by building a world class DLT.
The IOTA foundation has also announced the introduction of the Omega team. This will see the splitting of the team into two, just like it happens in traditional organizations, where IT departments are split in order to enhance efficiency. In the IOTA Foundation, team Alpha will focus on cloud services, while the Omega team will focus on the IoT vision of IOTA. This will play a major role in enhancing the operational efficiency of IOTA and will lead to more breakthroughs for this DLT. As a consequence, it will lead to an increase in the long-term value of IOTA (MIOTA).
All these developments amidst challenges such as the Semko case bring forth the IOTA foundation as a team worth banking on. Not many crypto teams can withstand such challenges and maintain the focus to keep building. In essence, IOTA (MIOTA) comes off as a crypto worth keeping an eye on, as a long-term investment. Its price may not be great at the moment, but it has potential. The team is good, and so far,the rate of adoption has been good too.