Dominik Schiener

Chairman of the Board of Directors & Co-Founder of IOTA

Dominik Schiener is an Italian entrepreneur who co-founded IOTA, a cryptocurrency designed for Machine-to-Machine (M2M) applications in the era of the Internet of Things (IoT).

IOTA is a digital asset that uses an innovative Tangle network to overcome the limitations of existing blockchains, and is mainly suitable for Internet of Things (IoT)-based transaction processing. IOTA adopts a unique way of simultaneously performing the role of verifying transactions by participants, away from the mining and commission systems of existing blockchains.

IOTA is drawing attention for its fast track management based on the Tangle algorithm and no transaction fees. In particular, it is expected to be highly utilized in the IoT field, and the scalability of the Tangle network is expected to provide faster transaction processing speed as the number of participants increases.