IOTA [MIOTA] Foundation board member Ralf Rottmann says board of directors signed MoU
IOTA [MIOTA] Foundation has been in the news for all the wrong reasons of late. On August 8, a heated debate between the board of directors leaked to the media.
In the wake of it, Ralf Rottmann, who is a member of IOTA Foundation Board of Directors, said all the members signed a memorandum of understanding [MoU]. He revealed this in a Twitter post on August 13.
The leaked chat-log showed mistrust between the board of directors. Sergey Ivancheglo during a meeting said he does not trust co-partner Dominik Schiener and hints that he should leave the board.
He said: “I inform everyone that I [no] longer trust Dominik Schiener and I think he should quit the IOTA Foundation for the better future of IOTA.”
The chat turns into a heated debate where Schiener says he wouldn’t go without a fight.
When the other members of the board learned the chat was leaked, an official response was put out. The founders clarified that “anyone who has been through a heavy growth phase similar to the IOTA Foundation’s, understands that there is a significant emotional journey involved. We have seen friends turn into founders, and founders become key decision-makers in a multi-billion dollar project faced with countless challenges.”
The report read: “The ultimate aim is to build a larger and more diverse board, in order to approach important decisions from a wider perspective. To this end, a list of changes to the statute were devised in order to a) allow the board to collectively nominate new board members and b) remove board members’ ability to delegate their voting rights to other board members – thus making sure that when tough decisions are to be made, all views are truly represented.”
In the statement, an explanation was given why Ivancheglo asked Scheiner to step away from the foundation.
“Certain circumstances lead to a situation, where two of the IOTA founders have been “waiting for board seats” for more than four months. Unfortunately, sufficient priority was not given to this open issue, and there was a failure to keep the missing board members informed about progress.”
The board also invited its missing two founders to IOTA’s Board of Directors.
” We are committed to having the Memorandum of Understanding and nominations completed no later than August 10th, 2018, and will follow up with an update.”
The foundation has now welcomed Serguei Popov and Sergey Ivancheglo to join its board.
Image via Shutterstock
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