The Cryptocurrency Alliance held a farewell party last week for its outgoing president and founder, Casey Botticello. The Cryptocurrency Alliance is an independent expenditure-only committee (Super PAC), founded by cryptocurrency investor and blockchain advocate in 2017. Botticello told CDN exclusively:
It truly has been an honor to lead such a fantastic group of people. Cryptocurrency and blockchain technology promote an uncensored network where all can participate with equal access, and I continue to believe in the importance of such technology.
The Cryptocurrency Alliance is currently conducting a search for a new president and treasurer. Botticello’s departure is part of a larger trend where blockchain and big data experts are being hired by companies seeking a strategic corporate advantage in an increasingly digital world.
In a note to clients last week, RBC internet analyst Zachary Schwartzman highlighted blockchain as a threat to Facebook and other major tech companies. The Internet is still at the “embryonic stages of a potential massive paradigm shift” to computing on public blockchains, according to Schwartzman. That shift “could be a long term risk to Facebook’s underlying business model,” he said.
Schwartzman categorized Facebook’s move as an “acqui-hire” — a popular Silicon Valley term for when a company acquires a company only to recruit its employees.
“On the surface, it may appear that Facebook purposefully hired the technical team related to DECODE. But we don’t believe this was the case,” Schwartzman said. “Our view is that this was simply an acqui-hire to expand Facebook’s internal crypto team’s expertise.”
Facebook is on a growing list of tech companies testing out the blockchain space, with former PayPal executive David Marcus leading its charge. Amazon, IBM, Microsoft and J. P. Morgan are among others looking at use cases for the technology, which supporters call more transparent and more secure than existing data systems.
The Cryptocurrency Alliance is an independent expenditure-only committee (Super PAC), founded by cryptocurrency investor and blockchain advocate . The Cryptocurrency Alliance Super PAC was created to raise awareness about cryptocurrencies and blockchain technology, counter the relentless propaganda espoused by the global banking elite who are threatened by a decentralized currency, and to oppose legislation and political candidates who intend to regulate cryptocurrencies at the expense of consumer privacy.