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It is based on a new distributed ledger technology, the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system. IOTA is the missing puzzle piece for the Machine Economy to fully emerge and reach its true potential. IOTA is envisaged to be the public and permissionless backbone protocol for the IoT that enables true interoperability between all devices. The IOTA Foundation houses the academic researchers, developers, industry experts, and other engineering and business professionals working on the development and adoption of the IOTA protocol for the machine economy and the IoT industry. General administration: Operations, communications, finance, human resources, and legal.
Public Policy: Social initiatives, collaborations with Governments and NGOs, and governmental regulations advocacy. Development: Academic research, IOTA core protocol development, theory to working code, protocol standardization, and new technologies. Ecosystem: Community development, developer resources and advocacy, educational material, events and hackathons. Industry Streams: Industry adoption, key account management, proof-of-concept development, strategic development, alliance management. The potential of distributed ledger technologies can only be unlocked if they are deployed freely and openly, enabling global ecosystems to be formed and giving anyone the opportunity to participate and innovate.
Even just a cursory glance at the history of the internet corroborates this fact. Germany which will act as a neutral and independent entity to further research and develop the IOTA protocol and other open-source platforms, and to setup a framework for the open ecosystem around the IOTA protocol to grow and prosper. Why establish the IOTA Foundation in Germany? The ultimate goal for the IOTA project is it to achieve mainstream adoption of the IOTA protocol, and establish IOTA as the main currency for machines. As such, being headquartered and regulated in an environment which enables and further accelerates this adoption is of utmost importance.
Germany is one of the most highly regulated countries, and is largely taking the lead for establishing regulations of digital ledger technologies on both national and EU-wide levels. This gives the IOTA Foundation a unique opportunity to work closely with regulators to help shape smart and effective policies and quickly adopt them. Many of the largest industrial, automotive and retail companies are headquarterd in Germany giving the IOTA Foundation a unique opportunity to work closely with them to integrate the IOTA core protocol into their businesses and invite them to participate in the IOTA Foundation and Ecosystem. A thriving startup ecosystem, especially in Berlin and Munich. Germany is also one of the countries which has pioneered the concept behind cooperatives. Many large German corporations are owned by non-profit foundations, and as such have a radically different mindset that is not driven by pure profits, but by the greater good for society.