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IOTA is about autonomy and IoT is about automation: Co-founder Schiener

Co-founder of the IOTA Foundation, Dominik Schiener, was interviewed recently about using blockchain and smart contracts to create new, socially impactful applications. During the interview, Schiener commented that one of the main problems with blockchain technology is scalability, and that Bitcoin, Ethereum and IOTA were the only proof-of-concept at this stage. He said,


“It’s not scalable — we’re still in this early exploratory phase where we need to figure out what works and what doesn’t. We need to cross this technological chasm to make sure these technologies are scalable and production ready.”


Schiener further spoke about IoT (Internet of Things). He said,


“IoT is all about automation. IOTA takes this a step further — it’s not longer about automation, but autonomy. We want to make it possible for machines to be truly autonomous and make decisions on its own about who to transact with, what to pay for and even to earn money.” Read More...

#IOTA #IoT

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