Digital Asset, a Blockchain company released a report on December 18, stating that Blythe Masters, the CEO of the company has stepped down from office. According to the press release, this is for her own personal reasons. However, Masters will still hold notable positions in the company which are a strategy advisor, board member, and shareholder.
Blythe Masters, One of Blockchain’s Pioneers
Masters became the company’s CEO in 2015 and she is a leader in the Blockchain Industry. She believed in the technology since its inception which is, before it gained its widespread adoption. As a pioneer of the Blockchain, she is also the brain behind a risk management system, credit-default swap which didn’t turn out as expected. This is a system that is said to have led to a major financial crisis in 2008.
The Blockchain enthusiast’s name is not only reputably known at Digital Asset but as a corporate financial advisor. Based on reports, the Former CEO spent almost 20 years as an Investment banker. Therefore, she is the first to leave a Wall Street career to work in a company that focuses on the Distributed Ledger technology (DLT).
Reputable Companies Believe in Blockchain’s Potentials
Regarding her step down from office, Masters made comments especially targeted at the new change in leadership. She is quoted to have said the company has evolved over the years from being a mere idea to a global engineering firm. AG Gangadhar, the acting CEO of Digital Asset has received her recommendations. According to Masters, he is well experienced to launch the company to another level.
Masters is not the only individual applauding the potentials Blockchain has on the society and the economy at large. This is because the same can be said about reputable companies like J. P. Morgan and Amazon. The e-commerce site, for instance, has adopted Blockchain to aid in the traceability of its food products. This is to ensure that food recalls can be made easier if there is any case of contamination.
Companies Are Reluctant to Invest in Cryptocurrency
Despite the beliefs of these companies in the technology, it appears that very few are investing or adopting cryptocurrency, which is also a technology of the Blockchain. The reason cannot be far-fetched due to the volatile nature of Bitcoin. This coin has seen an 80 percent decrease in its price from what was obtainable in December 2017. This is from a $20,000 price per coin to $3,815 as at press time.