Sergey Ivancheglo, co-founder of IOTA, has stated a vote of no confidence in his compatriot co-founder Dominik Schiener, as outlined in a leaked chat-log transcript on Pastebin. The transcript opens with a note from Ivangheglo stating, “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.” Current details of why Ivancheglo (better known as Come-from-Beyond) is expressing this concern of Schiener remain unclear and are not explored in the chat-log transcript.

However, the log goes into great detail discussing the process for Schiener’s removal and how he will be superseded. This instance only adds to the controversy that the foundation has suffered in recent months.

Back in April of this year, fellow co-founder David Sønstebø accused a now-former employee of exploiting the brand for personal gains. He further insisted the employee in question never officially held a position in the foundation.

Given the state of proceedings, it would seem that IOTA have been discussing this issue for some time. The leaked chats suggest one of the main points of contention is how IOTA can change its statute as a foundation to ensure there is sufficient voting power to oust Schiener from the board.

(IOTA has since released a statement to clarify that Schiener will remain on the board.) But Schiener himself stated he won’t go down without a fight. “Good luck.” He wrote in the leaked chats. Read more from thenextweb.com…

thumbnail courtesy of thenextweb.com