Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Zooko Wilcox is resigning from his position as CEO of Electric Coin Company, the organization responsible for the privacy-centric cryptocurrency Zcash (ZEC).
On Monday, ECC revealed the leadership transition, promoting Josh Swihart to succeed Wilcox.
Picture of Wilcox discussing the history of online privacy. Source: ECC
Swihart previously served at ECC as one of the vice presidents of growth from October 2018 until August 2023, although he took a four-month hiatus to work part-time as an investor at the investment services firm Denver Angels in Colorado, as noted on LinkedIn.
“We are confident in Josh’s leadership — in identifying product-market fit, establishing new partnerships and collaborations, enhancing Zcash usability, and boosting adoption,” ECC stated in a post on December 18.
“Along with a vision for ECC and a hopeful enthusiasm for Zcash, Josh possesses a robust entrepreneurial, technical, and product-oriented background,” the company added.
Swihart mentioned that the organization will prioritize enhancing Zcash’s utility through user-centric products in the coming months and aim to strengthen ECC’s financial position.
Wilcox — who describes himself as a “human freedom maximalist” — shared positive reflections on his journey of building Zcash from its inception in a Medium post dated December 18:
“It has been an incredible experience, and I’ll always be grateful that I had the opportunity to live out one of my science fiction dreams in reality.”
Related Posts
Nonetheless, Wilcox expressed that it was in the best interest of both himself and the company to separate. “I don’t think this conflation of Zcash with me personally is healthy for me, and I don’t think it’s healthy for Zcash,” he remarked.
“Zcash’s significance in human history is, and will be, far greater than any individual,” Wilcox continued.
The Zcash co-founder acknowledged that he had differing views with Swihart regarding the best path forward for Zcash, but emphasized that they never disagreed on the underlying purpose.
Related: Binance was wrong to boot Monero, Zcash and other privacy coins
Wilcox will continue to serve as a director on the board of the Bootstrap Project, which is the parent organization of ECC. Alan Fairless, Christina Garman, Michelle Lai, and Zaki Manian are also members of that board.
Zcash is a privacy-oriented blockchain and cryptocurrency that was launched on October 29, 2016. ECC was established two years prior in 2014.
Zcash is built on Bitcoin’s codebase and, similar to Bitcoin (BTC), has a capped supply of 21 million coins.
The announcement did not significantly affect ZEC’s price, which is currently at $28.8, according to CoinGecko.
Magazine: Lawmakers’ fear and doubt drives proposed crypto regulations in US
