- IOTA’s Abu Dhabi foundation reinforces its commitment to worldwide decentralized governance.
- IOTA’s proactive partnership with UAE authorities showcases a new era of regulatory synergy in the crypto realm.
In a strategic move for global expansion, IOTA recently announced its intent to set up a new Foundation in Abu Dhabi, as conveyed through a tweet by IOTA @iota.
🌍 #IOTA is establishing a new Foundation in Abu Dhabi 🇦🇪, to fuel global growth and innovation. This move underscores our commitment to decentralization and fostering a robust crypto community. Read more about this development 🔗https://t.co/ILIXFIDHMp pic.twitter.com/rmASk6kUv6
— IOTA (@iota) September 14, 2023
Establishing a Global Footprint
IOTA, in its pursuit to be recognized as a global digital infrastructure, is setting up an independent, regulated foundation in Abu Dhabi, United Arab Emirates (UAE). This decision resonates with their commitment to the region and their aspirations to expand IOTA’s influence worldwide. The new entity is conceived to be instrumental in promoting IOTA’s global growth, adoption, and expansion. Recognizing the strategic advantages offered by the UAE, IOTA believes this location will provide the right environment to support its worldwide ambitions.
Embracing Decentralized Governance
Adding an additional headquarters in Abu Dhabi aligns with IOTA’s mission to further decentralize its governance. The goal for IOTA is to be an impartial, open, permissionless, and globally distributed digital infrastructure. This move towards decentralization reiterates their vision of IOTA becoming a fundamental digital infrastructure for the future society and economy.
Pioneering Collaboration and Oversight
As IOTA establishes its footing in the UAE, it aims to be among the foremost DLT entities operating in the region. With the intent to function under the new regulatory framework, IOTA has shown keenness in partnering with UAE’s regulators, business leaders, and government bodies. This not only accentuates the country’s global stature in technology and business but also showcases IOTA’s commitment to robust oversight and structured processes to bolster the crypto community both locally and internationally.
Dominik Schiener, Chairman of the IOTA Foundation, praised the supportive stance and vision of Abu Dhabi’s leadership. He emphasized the conducive and proactive environment the country provides, which aligns perfectly with IOTA’s aspirations.
Empowering the IOTA Ecosystem
The foundation in Abu Dhabi will operate under a dedicated board of directors. It is geared to offer pivotal funding and support to the burgeoning IOTA ecosystem, underlining their commitment to innovation in the broader DLT realm. By encouraging community participation in the creation of committees, the new foundation ensures the diverse talents within the IOTA community play a central role in shaping the project’s technology and governance.
