In the fifteen years I have dedicated to building technology companies, I have seen what makes a market innovator. Today, I see that, and more, in Blockchain, and it has been thrilling to work with the company as an advisor over the past year.
I witnessed the financial crisis first hand on Wall Street, where it became clear to many that, over time, the financial system would need upgrading for complexity management and greater efficiency. That was when I first started to learn about the Bitcoin industry and the block chain. What was most exciting to me was the fundamental architectural innovation of the block chain as a trusted, pseudonymous, distributed ledger for financial flows with broad applicability and deep utility.
Blockchain, the company, has already achieved exponential growth as the world’s leading bitcoin wallet, which has built-in viral adoption characteristics, especially as more consumers go mobile. The company has the most trusted brand in Bitcoin for consumers and application developers. As a key enabler, Blockchain is building the software abstractions that will hide technical complexity, add features, increase usability and grow adoption of bitcoin technology. Creation of this platform ecosystem has been a key driver of growth with other large-scale networks such as Facebook.
Growth of bitcoin and the block chain will have transformational impacts in our lifetime. For consumers, bitcoin will offer a more efficient, accountable, and lower cost way to transfer funds and pay in many use cases. For businesses, the block chain will allow sharing of information for its participants, trust between unknown parties, and greater security and risk management for transactional flows.
I look forward to working with Peter, Nic, Ben and the team. They have the vision required to lead the industry into the next phase of hyper-growth, and the skillset to build its foundation. I’m eager to bring my experience in mobile wallets, financial services, and social networking to bear on the company’s product innovation, business model, partnerships and scalability.
The team is-well positioned to bring a better future to the world through the block chain.
Salil Pitroda was previously an executive in corporate development at Facebook and has been a part of two successful startups. The first, Old Lane, an innovative investment firm where he specialized in technology and financial services, which was acquired by Citigroup. The second, C-SAM, a pioneering mobile transactions company where Salil served as a founding investor, interim executive, and board member, which was acquired by MasterCard in 2014. Salil has also worked on strategy, product development, growth, M&A and more with **Pryte, Onavo, C-SAM, MSC Software, Shopzilla, Poplicus, Ceridian, Beecher-Carlson, Aspen Marketing, SPI Technologies, Symphony Services, Click Tactics, Zagat Survey, Phonetic Systems, and ProBusiness.