With the IOTA Foundation, the Berlin Foundation Supervisory Board has officially recognized the first German foundation that is based on a cryptocurrency. It now is an registered not-for-profit entity (“gemeinnützige Stiftung”) under German law.
With the recognition of the IOTA Foundation, companies, developers and other users of the platform will be able to access IOTA technology on the basis of the open source policy in order to advance the technical advancement and standardization of IOTA for the realization of new applications and business models.
Most important members of the Foundation are David Sønstebø (IOTA founder), Dominik Schiener, Serguei Popov (Mthcl) and Sergey Ivancheglo (Come-from-Beyond).
"The so-called hybrid foundation is a form of foundation that is still quite rare in practice. In contrast to the classical foundation and the pure consumer foundation, the foundation's assets are made up of both a basic capital and a consumable capital." - Anka Hakert
Here is a brief summary of the work the foundation does:
- Initiate C and RUST core client development.
- Attend Internet-of-Things and Blockchain/Distributed ledger conferences and hackathons in an active role.
- In collaboration with some big holders give out development-bounties.
- Be able to strengthen the brand and raise awareness of IOTA in all capacities.
- Bring on companies and organizations, especially those focused on Internet-of-Things and blockchain.
- Essentially realize the vision which started the R&D of IOTA.
- Be the de facto public organization behind IOTA.
Sources:
https://iotasupport.com/foundation.shtml
http://www.die-stiftung.de/nachrichten-service/kurzmeldungen/iota-erste-krypto-stiftung-deutschlands-gegruendet-74566/