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Is IOTA falling apart from within? A leaked transcript might reveal it

A conversation between the board members of IOTA has been publicized and the illumination does not show the foundation in an attractive light.

Written by Becky Leighton Published on

It has been discovered that havoc has been wrought amidst the IOTA team and now the mayhem has been publicized owing to a leaked transcript.

A conversation regarding the naming of two IOTA founders as members of the board of directors has been posted on Pastebin and the story it tells is likely not one that the entire IOTA foundation would like to have online. The transcript details the opinion that Sergey Ivancheglo, one of IOTA’s co-founders,” has of other co-founder Dominik Schiener – who happens to be the only member who can appoint new members – and the view is not a good one.

Th discourse opens with Ivancheglo:

I inform everyone that I don’t longer trust Dominik Schiener and I think he should quit the IOTA Foundation for the better future of IOTA.”

Ivancheglo did not provide reasons for the lack of confidence in Schiener, but the transcripted conversation outlined a standoff between the members who are wanting to discuss “the long overdue nomination of Popov and Ivancheglo to the board”.

Schiener met this with a criticism, saying that he doesn’t “even know what they will be doing on the board.” With regards to their position, he also said:

“I have been trying to get this information out of [Ivancheglo], but all I got was 3 bulletpoints. and one was “tbd””.

The conversation alternates between Ivancheglo and Schiener arguing with one another regarding a board meeting the following day:

[Ivancheglo]: no answer my question what reasons not to let me join?

[Schiener]: dude, you are going in circles.

It ultimately hits a point where Schiener is left confused about where the conversation has gone:

[Ivancheglo]: *alright, I’m tired. Either we start the procedure within 1 hour or I’ll publicly declare impeachment to Dom and request him resigning from IOTA Foundation. First on general channel of this slack then on Twitter if that doesn’t harm IOTA Foundation* 23:00 UTC of today is the deadline I hope noone minds if I publish this chat log?”

[Schiener]: wut wtf is this lol

And the conversation leads to a point where Ivancheglo suggests that a problem can be solved without Schiener, to which Schiener responds that Ivancheglo is “destroying the entire project” and it continues to volley between the expressed distrust of character from and towards both parties. Finally, Ivancheglo concludes that “[Schiener] was going to quit IOTA Foundation several times anyway. This time I’ll help him. It’s obvious that he can’t live such stressful life as he is living now, so he can return back to the lifestyle he used to.”

Whether this will be sorted out in the board meeting or whether the foundation will implode owing to the internal dispute is yet to be seen. For now, the currency has seen a trickled increase of 4.4% day-on-day trading and is sitting on a value of $0.551 USD.

Written by

Internet writer looking to find the right piece. Also presents things on radio and happens to be a chip off the old blockchain. @BeckyRLeighton

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