A Conversation with IOTA founder, David Sonstebo

CRYPTO 101
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Personally I from a I would say futuristic view like when I was a sixteen years old of his very much into the futurist movement on the Internet. At the time this was like two thousand five six seven when Bitcoin didn't even exist yet and we had something called the extra populists where you discuss everything from quantum physics foundations of physics to the danger of artificial intelligence. So if you've heard of nick booster which has become quite a household name analysts. Yeah I WANNA say. Last seven years I think is like the simulation Disease that he created cetera gained a lot of momentum particular due to alone must he was posting on these forums. And ask His collaborators as was the creator of quantum computation. His name's David Deutsch. He was the father of quantum computation. Also one of the strongest proponents of Theon many worlds interpretation of quantum mechanics which has also become quite popular in the last few years. So this was kind of the environment that my formative years were spent in online and in one of these forums which was gold. Ls wrong by Allies Gulf skit will also is very focused on their life extension artificial general intelligence these kind of research topics Heuristic stuff on those forums. Of course this is were held. Fini Way die in all of these kind of book chains. Cypher legends hung around so I was exposed at quite alone. I think the white paper I owed is. Bitcoin story came up around two dozen ten eleven in the beginning. I wasn't particularly interested because it was like Internet money. And it had this very strong towards a particular political leaning and I didn't like Join Movement based on a political ideology. I don't care for that like I prefer rational and critical thinking so I didn't necessarily like it into beginning. Look because of the technology but just because of the overall movement around but then as I like as the years or a couple years past Of course used Bitcoin a couple. Times was interesting. And then the dove into the White Paper in depth and I realized that Holy Shit. This technology is really transformative. At least it could potentially be a paradigm shifts in the digital around. So from there on I would say early two thousand twelve. It was full time. Twenty four seven just distributed. Ledger Technology. How can we use it for payments? Have degree used for data Degradate boating all of these other kind of extremists So I got into that and then I met my am co-founders Sergei bunch low dominic in there and Sergei Popo. All of them were also early adopters of drip though and we got together in this project called exceed in two thousand thirteen. This was the first proof of stake. Implementation was kind of the first of I I would say INEX- T for those historians out there listening and Exte- was the first project that truly brought the blockchain to other applications older than just transactional back and forth payments because we had a completely decentralized assets exchange which you can now of course compared to Theorems Your C. Twenty token kind of ICO. Hyper happen and we all sat boating. That all of these interesting stuff. Identity Cetera on the distributed ledger. Jen so all of us met there. Erin coalesced around this idea but then personally. I was much more interested in the futuristic aspects. Has That was my background? So I tried to contemplate what role can distribute electric play in the future and for me. There was two very definite role that it can play number. One is the data integrity or data insurance or whatever term. You want to use it. Depends on what the paper rate rise is that like paper or like proving that data hasn't been tampered with and that you know people who okay interesting exactly so the way I think about like the future whether hundreds of billions of sensors and a lot of this edge computational devices which at the time was even called edge computational because it didn't exist at the time but for us it was very obvious that you will have computation have sensors sending day to these gates at the edge. Should they will computer that? They will send it back in. You will have real time actionable Kind of items. That you can Not just measuring analyzed but you can also act on them but in that case like in that futuristic scenario where the entire world is just completely autonomous. You are one hundred percent dependent on the date of being accurate and that's where this debate electric. It's immutable and censorship resistant. So that's kind of the angle that isolated from from point one and point to was what is the incentive. Because you can think of it today. You have Just from a human's centric experience point of view. You fit bit than you have with things rabble these different e health companies. Just a very simple example. How do they interact in? What is the incentive for them to interact? There has to be a mechanism for them to actually data an open up their data silos so it kind of becomes disfluent data lake which kind of been promised for the best twenty years and from my perspective the distributed ledger provides a payment mechanism. This value transferred guaranteed value transfer. So those are the two things that are really Really prompted me to initiate the IOTA Project and since then just just wrap it up very quickly. This introduction became quite long so since two thousand fourteen. We started the project and we went forward with it. Developed the initial prototype Blah Blah Blah Blah Blah and then in two thousand and sixteen restarted the incorporation of thieves Which was the first non partitioning Europe at the time that was confronted with cryptocurrency and it was in Germany so as you can imagine it wasn't the easiest process like Germany isn't known for its Super Liberal policies. We have to go through a lot of the doors to get that accepted the witted and that also paints kind of the backdrop of what I oughta is versus a of these other projects in the sense that we chose to take the hardest route possible from the beginning. Because we knew if this is going to become something if this if this is going to become the next TCP IP protocol we have to get the legislation on our side we have to get the regulators on our side. So let's just go through it in the beginning. So that's what we did. Got It setup. Now we hundred twenty people in thirty different countries around the growth as the foundation. Of course have a huge community as well. So that's yeah that's why introduction

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