[ - by Mart]
Now that the dust has settled on the announcement that the IOTA Foundation is expanding to the Middle East and the IOTA DLT Foundation is the first entity registered with the ADGM, let's dissect it all.
The news took the market by storm. IOTA’s price surged and big news outlets like Reuters and Dailymail were covering the story. This is not only a milestone for the whole crypto market, but also a big opportunity for our entire ecosystem.
Abu Dhabi and the whole UAE are serious about modernizing and digitalizing their whole infrastructure and IOTA might very well be their match made in heaven. Light-weight, scalable, sustainable, modular. Seems like an obvious choice, right? After the much-discussed decision to fore-go the community and inflate IOTA’s total supply, we are now seeing the first opportunity to put the freshly minted funds to work. 552,000,000 $IOTA: that’s the amount the IOTA DLT Foundation (the entity in the UAE) holds. At the time of writing, this already amounts to roughly $176,000,000. There is ample opportunity to utilize those funds, build a solid network of builders, partners and collaborators and become the number one player, that leads the digital transformation of the Middle East, right? RIGHT? I’m definitely excited and can’t wait to see what’s lying ahead of us in the UAE but also for IOTA in general.
IOTA was an afterthought for too long. Of course, what the IF did over the years with so little funds, is nothing short of impressive. After our rough start, founders getting booted and courses being corrected, we already saw a change in direction and execution from the IF. Chrysalis was the start, Stardust, Smart Contracts, scientific validation and the first testnet of the holy grail, IOTA 2.0, soon. Everything is there, just the price and bigger announcements somewhat lagged behind. But I somehow have a feeling that this was just the start of IOTA’s Cinderella story, the biggest comeback story in crypto’s history... Sounds bold, but I’m all here for it. Honestly who, if not IOTA?
There’s still some news due, with the Dom stating that “new senior leaders” have joined the board. Experienced people who will push real world adoption. If you put your ear on the pulse, there are definitely some exciting names tossed around. We’ll see!
But most importantly, all of these news might mark a turning point in community sentiment. There’s just so much to be excited about, so much to look forward to. With the newly created funds, the “war chest”, the new leaders pushing IOTA forward, I’m sure this is just the start of our amazing comeback journey. And we will not stop, we will not give in, we will work our way back to the top, because this is where IOTA belongs. Trillions or nothing.