Cointelegraph Magazine

6 questions for Dominik Schiener from Iota Foundation – Cointelegraph Magazine – Mail Bonus

We ask the builders of the blockchain and cryptocurrencies sector for their thoughts on the industry … and throw in some random zingers to keep them on their toes!


This week we have 6 questions Dominik Schiener, co-founder of the Iota Foundation, a non-profit organization, and creator of Tangle, an unlicensed, multi-dimensional distributed ledger designed as a basis for international protocol for all things related.

Dominik Schiener is the co-founder and chairman of the Iota Foundation, one of the largest and greenest cryptocurrencies in the world. The role of the Iota Foundation is to support the research and development of new distributed ledger technology, including the Iota Tangle. Dominik was raised in Italy and oversees the co-operation and overall implementation of the project’s vision for the future of the mechanical engineering economy. He is a strong advocate for research-related, societal, transparent developments in the cryptocurrency sector.


1 – If you were investing in startup companies right now, what kind of blockchain-based business opportunity would catch your eye?

I would go all-in on startups that focus on the intersections of Web2 and Web3. We are in a period of transition that will last for a long time and taking this sustained transition is sensible from both a financial and technical point of view. Companies that help a centralized world move into the scattered – and vice versa – are the present and the future. This includes cryptocurrency banking, fiat portals, NFT marketplace and so on. The biggest barriers to adoption are user experience, not scaling. By focusing on and investing in UX, the path to mass adoption and into the new world of Web3.

2 – Which people do you find most inspiring, interesting and fun in this space?

I am attracted to people who have endured and overcome difficulties in their personal and professional lives and have become more capable leaders as a result. I’m naturally inspired by people like Vitalik Buterin within the crypto space, but I also admire Ray Dalio, whose innovations – and thinking – transformed traditional finance long before cryptography existed.

3 – What’s the most innovative blockchain application you’ve ever seen? It may not be the one most likely to succeed!

I’m getting more and more interested in algorithmic stablecoins. I’m fascinated by their mechanics and possibilities. Of course, they are very experimental and some may just fail, causing investors to lose millions. Nevertheless, these stablecoins have tremendous potential to engage with retail investors and offer new ways of doing business. I believe that they are crucial for general adoption, so I sincerely hope that they will be successful.

4 – What is the most interesting place you have visited and why?

I’m a mountaineer. I grew up in the Alps so I’m probably a bit biased. My favorite places are remote areas in the mountains, where you are far from civilization and can really take a moment to step back, reflect and appreciate the beauty of our world. Such calm is the best way to take a break from the cryptocurrency craze. I love being in a place where the only reminder of the present is a unique plane overhead. I love South Tyrol [in northern Italy] especially.

5 – Which movie world would you most like to live in and why?

I’m going with Avatar. This is such a stunningly elegant and perfectly realistic world. I love the look of this picture and how much it emphasizes the cohesive nature. If I’m a nature lover on earth, I think I’m a nature lover on other planets too. Living in another reality and becoming part of the Na’vi tribe sounds like an incredible exploration adventure.

6 – What should we teach our children?

However, financial literacy is not a priority – it should be within education, and the sooner it changes, the better. I also feel that more emphasis needs to be placed on philosophy and, more specifically, ethics. Science and technology are evolving faster than ever before in the history of mankind, and we simply cannot have a generation that is incapable of thinking critically about the human aspect of this evolution. We know about the dangers of technological progress without moral boundaries – there are countless dystopian films about just that! – and its importance can not be underestimated.

Wish for the young, ambitious blockchain community:

That we will never forget why we are here. It’s not about getting rich quick. It’s about removing the centralization and abuse of power to lead billions of people to prosperity and prosperity through decentralized technology.

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