IOTA Foundation

The IOTA Foundation was established in Germany as a formal, non-profit organization (‘gemeinnützige Stiftung’) in 2017 by Dominik Schiener and David Sønstebø.

The IOTA Foundation’s primary goals are to:

• Research and secure the foundational protocol layer, and create new knowledge to benefit the ecosystem behind the economy of things.
• Develop production-ready software for the community, partners, and ecosystem to use and expand upon.
• Educate and promote technologies and use cases for new generations to understand and to ensure the Foundation’s success.
• Standardize and ensure the maturity and widespread adoption of the economy of things.

The IOTA Foundation is funded in three ways:

• Holdings of IOTA tokens from community donations and unclaimed tokens from the initial crowdsale.
• Grants from governments to perform research and development.
• Donations from individuals or enterprises.

The IOTA Foundation is governed by a formal charter and includes:

• A Governing Board to set and achieve the Foundation’s vision and run its operations.
• A Supervisory Board to guide and oversee the performance of the Governing Board.
• An Advisory Board to provide independent advice, perspective, and direction.