Rethink, Renew: ShapeShift CEO Erik Voorhees to Rebrand Crypto Trade | CryptoTechBuzz
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Rethink, Renew: ShapeShift CEO Erik Voorhees to Rebrand Crypto Trade

Cryptocurrency trade startup ShapeShift is planning a significant rebrand this yr.

Introduced at ETHDenver, an ethereum developer convention being held in Colorado this weekend, ShapeShift CEO Erik Voorhees stated that beginning Monday the corporate will likely be opening up a closed beta interval for chosen customers to allow them to strive a brand new model of the cryptocurrency trade platform centered on simplifying the person expertise.

That includes better interoperability with ShapeShift’s cryptocurrency hardware pockets KeepKey, CMO of ShapeShift Emily Coleman instructed CoinDesk that the revitalized platform goals to deliver collectively all the firm’s disparate merchandise, together with cryptocurrency pricing tracker CoinCap.

The feedback got here throughout a panel Saturday on management “in occasions of ambiguity,” the place Voorhees was joined by co-founder of cryptocurrency micropayments service Lily Liu, CSO of ethereum enterprise capital studio ConsenSys Sam Cassatt, and co-founder of decentralized utility platform Holochain Arthur Brock.

All holding (or having held) positions of executive-level management, every panelist was requested to quote one of many hardest choices they’ve needed to make with their respective crypto companies.

“In the event you’re going to be an organization within the crypto trade, you’re hooked up to the extreme market cycles of the trade. That’s full of fine and dangerous,” stated Voorhees.

Voorhees admitted that one of many hardest choices of his profession was the choice final September to introduce know-your-customer (KYC) precautions to cryptocurrency trade platform, ShapeShift.

“I felt like I needed to do one thing morally fallacious to permit the corporate to persist…It’s a extremely terrible place to be in,” stated Voorhees.

Explaining that he remained “ethically opposed” to requiring customers of the buying and selling platform to relinquish private details about themselves, Voorhees conceded the choice to introduce KYC got here right down to determining “what fights we wish to battle” and fascinated about “the long-term.”

To this, Voorhees has not given up any hopes for a brand new future the place “any two individuals freely and with out censorship” can simply take part in financial transactions, saying:

“Society is comfy about this concept that folks ought to have the ability to speak freely with one another … the truth that cash is handled in a different way is a large injustice. I hope that crypto breaks that discrepancy.”

ShapeShift lately noticed a 3rd of its employees laid off because of the continued market downturn.

‘A refocusing of priorities’

Different firms which have needed to make troublesome choices in crypto winter have been additionally represented, together with enterprise capital studio ConsenSys, which introduced a 13 p.c employees minimize in early December. Nonetheless, each Voorhees and CSO of ConsenSys Sam Cassatt stay adamant that the trade as a complete – outdoors of market fluctuations – is booming.

“Just about all indicators besides the wildly fluctuating crypto costs are nice. We now have extra ethereum builders than ever. We now have extra authorities and massive enterprise taking us critically than ever earlier than… Apart from that one quantity, every part’s nice,” stated Cassatt.

Certainly, ConsenSys is on no account staying idle with their investments. Introduced Friday throughout ETHDenver’s opening ceremonies, founding father of the corporate Joseph Lubin revealed ConsenSys give $150,000 within the cryptocurrency DAI to blockchain-based employment service Opolis.

This along with opening the ConsenSys Grants Program to new candidates, Lubin highlighted thrilling plans for the brand new yr saying that folks ought to “anticipate a number of token launches in 2019.” All this being encompassed in “a refocusing of priorities,” Lubin put in a former interview with CoinDesk that the subsequent iteration of Consensys – Consensys – is focussing on enterprise viability and success “in an actual enterprise ecosystem.”

Leveraging these instruments, the revitalized platform will boast added performance for customers to not solely covert one cryptocurrency to a different however retailer and handle their property all on the identical non-custodial trade.

“The purpose is to create fluidity between merchandise,” stated Coleman to CoinDesk.

Erik Voorhees picture by way of CoinDesk archives 

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