- Iota’s Dominik Schiener suggests that the long-term corporate secret is “focusing on a specific issue, developing projects, and having real customers.”
- The co-founder of IOTA further revealed that IOTA is focusing on digitizing the backbone of the digital economy (international trade).
In a detailed post, Dominik Schiener, co-founder of IOTA, outlined how companies can stay relevant for the long term and avoid being just a “one-hit wonder.” In the post, Schiener revealed that some startups fake the path to success “between a single story window.” Meanwhile, they are building a $100 billion company and trying to dominate all industries (the infinite market).
According to him, Excel’s “magic wand” is to “relentlessly focus on a particular problem or a smaller subset of the market.” According to his observations, “conquering these niches” could be an important step towards “scaling and hits in escape speed.”
He also believes that long-term surviving companies have real projects and real customers who are willing to pay them.
This applies to all high-tech products over the past decades. It also applies to L1S/L2S and all cryptographic projects. Fitting in the product market is everything.
Explaining how he applied this principle to the construction of Iota, Schiener pointed out that the project ensured that it focused on the “backbone of the modern economy – the digitalization of international trade.” According to him, the first plan is to grow to conquer global trade and become the dominant infrastructure for digitizing the global pipeline.
Additionally, Schiener revealed that IOTA plans to represent goods and financial assets for trade finance, while dominating the sector that creates digital identities for traders and governments. Already, as mentioned earlier, the much-anticipated IOTA Rebased protocol has been launched with the Trade and Logistics Information Pipeline (TLIP), which is expected to be redefined.
Previous efforts to make IOTA dominant in its niche
As part of a broader plan, IOTA introduced digital identity to combine W3C standards with IOTA MoveVM to address issues while promoting data integrity. As mentioned in a previous post, this provides a framework for authentication, validation, and secure data exchange.
In a recent update, CNF discussed Schiener’s plan to build a digital world-on-chain by introducing projects that cut off a range of areas, including markets, banking, tokenization, and artificial intelligence.
According to Web3 expert Lenny, Iota is working on obsessively to transform the global trading industry with recent initiatives, including collaborations to launch the Twin Foundation. As shown in previous discussions, the initiative could be expanded to eliminate trade barriers across Africa.
This is the very definition of the story of RWA and Depin. Use CryptoTech to solve specific, billion-dollar problems. Others have made a promise, but Iota currently offers real-world utilities. The question is, when will the wider market wake up to this?
Regardless of these developments, IOTA prices are struggling to regain the monthly high of $0.21, as they decrease by doing so 1.8% I’ve traded for $0.16 in the last 24 hours.
According to a recent analysis, the asset could cover the psychological range of $0.27 and $0.28, after surpassing the $0.21 level in the short term.
