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FUDsters, Not Misinterpreted Microsoft Partnership, Responsible For IOTA Decline, Clarifies CEO

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Uploaded by Coin News Two years ago, in January 2016, Cointelegraph published an interview with David Sonstebo, the CEO of IOTA, who listed out his vision for a Blockchain-less cryptocurrency and explained about the technology behind IOTA.From its humble beginnings, IOTA is now ranked in top-10 world’s cryptocurrencies.Cointelegraph caught up with David again for a conversation about the recent events and the overall journey of IOTA.Cointelegraph: IOTA’s price exploded abruptly after the Microsoft Partnership announcement, only to drop down after ‘the clarification.’What do you think happened there? Was it just a misconception or could there be any deliberation from any end? David Sonstebo: IOTA's abrupt price increase cannot be attributed to a misinterpreted 'Microsoft Partnership,' even though that's the narrative of ‘FUDsters’ and other non-critical people that blindly and misleadingly went with and spread like a virus.IOTA announced the data marketplace, which in itself is a novel killer application of IOTA and significant milestone for crypto-adoption in general, with participating companies such as Samsung ARTIK, Bosch, Fujitsu, Orange, Engie, DNV GL, Schneider Electric, EY, Accenture and tons more.These giants combined far outweigh any impact, one singular company like Microsoft had on the announcement.Furthermore, IOTA is already a co-founder with Microsoft of the Decentralized Identity Foundation, and we were invited by Microsoft to be part of their Azure stack in early 2016.The Microsoft and IOTA connection was therefore old news to the public.The other world leading companies working with IOTA were what cemented IOTA as a leading protocol in the minds of most and consequently had an impact on the market cap.Microsoft was the least newsworthy participant of this data marketplace— thus we can rule out Microsoft in terms of price attributed to the Data Marketplace news.Beyond this, IOTA also listed on Korea's second largest crypto exchange Coinone around the same time, which was a significant factor in the steep price and volume increase.What happened was merely an internal procedural error on Microsoft's side, which they have taken ownership of in correspondence with the IOTA Foundation.One of their main Blockchain engineers gave us clearance for PR, logo and provided us with a quote where the now infamous term 'partner' originated.We quoted them verbatim, as any professional entity would.Afterward, a lot of FUDsters decided to spam Microsoft with inquiries like: "are you launching a data marketplace?" and "are your business partners?" This barrage made their PR department attempt to clarify the nuances in vain.Some journalists then spun a minuscule semantic issue into a controversy, which again was exploited by ‘FUDsters’ in an effort to manipulate the market.It got so amplified and epitomize just how regular users and crypto investors can easily be manipulated by the FOMO-FUD cycle that neuroscientist and author Bobby Azarian felt prompted to pen an in-dept show more

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