IOTA Foundation and the For-Profit Entity(es) Idea I Escape The Sewer
We truly don’t see how “the problems around exchanges” would be fixed. IOTA Hub, meant to help exchanges lists its token was introduced over a year ago, on Aug 3, 2018, (see the blog post) and nothing with the big exchanges has happened since. It’s about time to call that BS what it is, a truly hostile boycott of IOTA by the blockchain, prices manipulative mafia. I say “prices” for at 4.6 transactions per second the bitcoin has a snowball’s chance in Hell of making any impact in the real economy, the productive economy that is. See our Bitcoin Frenzy (2): Wolfs of Wall Street in the Groundhog Day article should you wish to find out more about that deranged narrative that keeps misleading the world.
Escape from the Sewer
Our article, IOTA and the Sewer: Crypto-currencies Exchanges, goes a tad deeper into the problem IOTA has been silently facing since its inception. For this purpose it suffices to say that the crypto joke, Ðogecoin, is listed on 330 exchanges in comparison to those meager 45 for IOTA. This is not by a chance or because of the Ðogecoin’s potential among kindergarten’s investors, it is because IOTA, if successful would render most of the bulky, slow, expensive, polluting blockchains useless. This is how big the treat is, so they — the blockchain mafia that makes enormous profit (in 2017, during the crazy run-up Coinbase generated $923 million in revenue; Kraken’s private placement round, it will self-value 100% of its shares at $4 billion; Bittrex sees more than $50 million worth of crypto exchange hands on its platform every day and so on…) — must try to stop the project that might kill them. In an unlikely worst-case scenario for them, IOTA is successful and as such renders most of the 400 coins they list (not IOTA though) would be useless pieces of phony digital assets without any real value. That would mean they would stop trading and therefore they would stop making hefty profit for the exchanges. Why would you put a wolf in your chicken-coop? And that’s most likely why the exchanges such as Coinbase, Gemini, Poloniex, Bittrex, Kraken are NOT listing the IOTA despite its technological prowess and its Hub tailor made from them and the integration of the IOTA’s tech into their trading platform.
They can shut us up and prove wrong very easily, by listing IOTA, something they do not seem keen of doing any time soon. The only true way out, in our opinion is for IOTA to leave The Sewer.
A For-Profit Route
At the end, a wealth creation is not a such a bad thing. Not all money has been made out of slavery, some were made out of creativity and by making true progress for all of us. Railroads connected the worlds, sped up the industries and, along the way, made its owners and investors insanely rich. The “information superhighway” as we used to call the Internet in its infancy had created riches beyond dreams of any rubber barons of the past. Just look at all those Apples, Amazons and Googles, a true global giants. They are also degenerating into a vicious corporate tyranny, but that’s another topic to be discussed elsewhere.
The IOTA Foundation with its protocol, with The Tangle and with its IOTA token is on the brink a whole new technological revolution, the Industry 4.0 and M2M (machine-to-machine) economies. IOTA Foundation is almost too big already, in the scope of its ambitions. IOTA-powered Telco Asset Marketplace: Architecture, is one of those; smart cities are another; digital identity yet another. We could fill a whole book just by listing IOTA’s research and development and its progress. Sooner or later a non-for-profit would have problems with dealing with, well, the profits.
It is natural for the IOTA Foundation to make its fore into the for-profit world. Is that unusual? Of course not. “An art museum sells reproductions of paintings or a hospital sells disease-tracking technology, the projects go hand in hand with the mission” (source) so in that scenario the IOTA Foundation keeps focusing on research and development and, also on furthering the M2M, digital identity and all its purposes by its various subsidiaries.
The Standard’s Coming
IOTA is working with the Object Management Group, one of its close partners in order to standardize its techology. “The Blockchain PSIG (Platform Special Interest Group) met to consider the challenges and opportunities in the Distributed Ledger Technology (DLT) space and how OMG standards can be achieved that address these, including integration across different DLT ecosystems, the use of OMG instrument identification standard (FIGI®) for crypto assets and progress on standards for the IOTA graph-based Tangle ecosystem.” (source) So what does that mean? IOTA can became the standard for the Industry 4.0 as the HTML is the standard for the markup language for all the thingies you watch and read in your browser has been for quite some time. There isn’t a HTML non-for-profit corporation or a HTML for-profit corporation, but, upon that standard a wast world wide web has been built and along it, an enormous amount of very profitable companies have sprung into life.
This would’ve been a natural process for the IOTA Foundation anyway – only The Sewer and the mafia have shown us a need for the process to speed up ASAP – to enter a for profit business(es). The IF R&D can keep supporting myriad of projects, like the the IOTA Data Marketplace but could also profit from the data exchange, via its for profit subsidiary, in a way all participants find fit.
And the last word regarding the open source of ALL the efforts IOTA had put forth thus far and for those people concerned about for profit, public company on the NYSE or NASDAQ idea; just look up for the Red Hat, Inc. (RHT), “the world’s leading provider of enterprise open source solutions, using a community-powered approach to deliver high-performing Linux, cloud, container, and Kubernetes technologies,” and you’ll see a world of possibilities outside The Sewer, its vacuous bullshit and its hostility. They have to boycott IOTA to preserve their deranged Sewer, so let them keep it and leave it for the better future, something Satoshi started to dream about but they fucked up by greed and nothing else but greed.
Sapienti Sat, so I think we will stop now.