Blockchain.com to See Departure of Two More Top Executives

Another two top executives of crypto wallet platform Blockcain.com are about to leave the company, The Independent reported on Wednesday.

Citing anonymous sources, the report detailed that Liana Douillet Guzmán, chief operating officer of the company, and Chris Lavery, executive vice president of finance, are expected to depart the London-based company. Both of them are among the longest-serving executives of the firm.

Guzmán and Lavery’s exit will follow the departure of five executives late last year, and early this year, all of whom left the company within 12 months of their hire. Apart from the executives, many junior employees also left the blockchain startup.

Based on interviews with over a dozen former Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term.com employees, the publication outlined that the reasons behind the constant departures include a lack of growth opportunities and doubts over the business model of the firm.

In addition, over half-a-dozen former employees also pointed out the management style of CEO Peter Smith as one of the key reasons behind the mass exit of employees.

Former staff alleged that Smith regularly belittled employees for minor errors and even made inappropriate comments about his dating life to female employees, the report detailed.

Lack of vision in business

Founded in 2011, Blockchain.com is among the oldest crypto companies operating today. The company mainly provides a free wallet platform to store Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term. According to its website, it runs over 42 million wallets, which have transacted over $200 billion with “the lowest fees in the industry.” However, only 14 million users are actively using the wallet platform per the report.

Despite being one of the early players, the company struggled with its business model and could not register any profits to date on its books. The company is expected to become profitable in 2020, according to a spokesperson.

In July, the company jumped into the crypto trading business by launching an exchange. The market, however, is almost saturated and over-crowded with the presence of major players like Binance and Coinbase.