In the last few months, we received emails from many people who had questions? Since the questions often repeat themselves, I have summarized the most important ones here and answer to them:
Question: Who is behind public IOTA?
Markus: We founded the group public IOTA in early 2018 with 4 people. Frank, Christina, Oliver and me started to deal with IOTA and the Tangle technology in addition to our actual profession. I am an engineer and therefore very receptive to innovation. While the other three have barely taken care of the project in the last few months, because of family and job reasons, I have continued to work hard on it. I am confident that we will work together on the public IOTA project soon.
Question: What is the reason why you support IOTA and Tangle technology?
Markus: In 2016 and 2017, I have become more and more involved with the blockchain technology and have seen the need for a technology that can realize a decentralized transfer of data and cash flows. At first I dealt with the classic cryptocurrencies like Bitcoin and Ethereum. But there I quickly realized some weak spots, such as the energy-intensive mining that charges at a transfer fee and the slow data transfer due to the confirmation. But there are so many things for which suitable technology is important. It could be used in areas such as Smart City, Smart Energy, Supply Chain and Smart Automotive. All areas that are necessary for the implementation of the climate goals. I looked to the right and to the left, and in 2017, partly because of the hype, I became aware of IOTA and the Tangle technology. Since then, I have been accompanying this technology and I am still excited about the opportunities that the Tangle can offer in the areas mentioned above.
Question:: Are you strongly invested in IOTA?
Markus: It is said again and again that I do that lot of work because I´m heavily invested in IOTA or paid for that by the IOTA Foundation. To clarify that: In 2017, at the height of the hype, I invested a small amount in IOTA. Then came the bear market and the originally small sum became even smaller. In sum, it is much less than the money I spent on the public IOTA project. But, I am also currently convinced that it is well-invested money, which in a few months or years can certainly make a bearable profit.
Question: How much money did the public IOTA project get from the IOTA Foundation to make that work or to build the project?
Markus: So far, we have not received anything from the IOTA Foundation. We had placed this project in the Ecosystem Development Fund (EDF), but it was rejected. The IOTA Foundation initially focused on supporting applications, which of course, is very important in my view. Moreover, there are so many great projects in the EDF that the choice is not always easy. Of course I would be happy to receive support from the Foundation.
Question: Did you receive any financial support from others?
Markus: Yes, we’ve got some support from members of the IOTA community. It’s a great community, by the way. In the wake of articles that we have published, we have regularly received a few donations. Not a big fortune, but a recognition that I was very happy for. For the most part, I do not even know who the donations came from, but in some cases I know it came from members of the community who are also not big investors either. I would like to thank everyone at this point who supported the project. We also held a donation event for the Tangle Universe project, which included a sum of IOTA. The bottom line is that I invested far more in the project than was realized through donations.
It’s difficult to build a project on donations, I know that and that’s why I try to get another financing. Of course, it would be important for our projects to be self-sustaining, e.g. through banner advertising or sponsoring partners or similar. I have already had talks on this and there have already been positive signals from companies.
Question: What added value does your work have for IOTA and the IOTA Foundation? Is the Foundation not itself much better than public IOTA?
Markus: In short, I believe that the work of public IOTA and the IOTA Foundation with all their great projects complement each other very well. The added value of public IOTA is really hard to say, because I do not put a product on the market where you could estimate the added value it has. I do more or less a project work and public relations with the public IOTA project. What I try is to report at a certain level and with content — not crying out any phrases as seen by some people in other cryptocurrencies. A serious and honest work is important to me. Furthermore, I am looking for discussion with newcomers and companies to interest them for IOTA and the Tangle technology. To answer the question: What added value does a new testbed have in a company that has gained interest in this technology through our informations and diskussions? What added value can a person have who has been interested in IOTA through our information? Of cause, there are many who are involved in a success here. The added value of my work will probably only be assessed in the retrospect. If the IOTA technology creates a standard protocol in the IOT, then this work in retrospect could have provided a lot of added value. If IOTA falls by the wayside, which I’m not expecting, that would certainly be different. The Foundation does a very good job, but I think every independent support is welcome to get this great technology out of the niche.
Question: Why is the independence of public IOTA important?
Markus: The keyword is “Do not trust a prophet in your own home.” Independence guarantees a different view of the things and that is often very important. We’re certainly one of the more well-known independent supporters of IOTA, among others. An example should show where independence can be important. There are companies that have come into contact with IOTA for the first time and they contact me to verify certain things about the technology independently before turning to the IOTA Foundation. I am of course available for such discussions. This is just one example of why independence can be important. Of course there are many more examples
Question: In a Tweet you wrote: „We are currently at the crossroads to continue to do as we have done in the last many months…“ What does that mean?
Markus: That’s really easy to explain. In the last 18 months, I’ve worked countless hours per week for the public IOTA project (Tangle Universe)beside my job and put some money into licenses, design, programming, development and more. That makes in sum so many hours of work and a lot of money that was not covered by financing or donations. The budget is limited and I can and want no longer put money into the project out of my own pocket. This means that here is the crossroads, how to proceed with this project. Quite up-to-date, it means that I have to postpone the Tangle Universe Universe BETA 2.0’s virtual fair, announced for the fall, because the build-up would consume substantial money that is not counter-financed. But I am working hard on a financing. In general, there are other things, such as a new tool in the publicIOTA lab and much more are currently on standby because they are not funded. Above all, it is about the support for the following areas:
- public IOTA (Public relations and amongst other things providing high quality information)
- Tangle Universe BETA 2.0 (Building a first virtual trade fair in the area of IOTA and Tangle technology)
- public IOTA Lab (Building useful application to test IOTA and the Tangle online)
Currently I’m trying to get some sponsoring partners and it does not look too bad but first they would like to see the things before they get involved. That is understandable. Unfortunately financing for federal funding is currently not possible. But, don´t worry, the public IOTA project will certainly continue I am working hard for financial support. I am very confident for the future.
I hope that all your questions are answered. If you still want to know something, feel free to contact me at info@publiciota.com
