eToroX Names Firmo CEO Omri Ross Chief Blockchain Scientist

eToroX, the cryptocurrency arm of social trading network eToro, has restructured its executive personnel, this time adding veteran Omri Ross as its Chief 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 Scientist.

Mr. Ross’ arrival follows on the heels of eToro’s acquisition of his blockchain firm Firmo Network. Omri is the CEO and founder of Firmo, a start-up focused on providing infrastructure for derivatives and other financial contracts on blockchain technology.

In his new role at eToroX Labs, Ross will be based out of the group’s Copenhagen office, where he will focus on developing blockchain solutions to support the company’s capabilities in a field that remains a nascent concept in the grand perspective.

Dr. Omri Ross has earned his Ph.D. in mathematical finance from the University of Cambridge and assisted in establishing the first academic course on blockchain technologies at the University of Copenhagen, where he works as an assistant professor.

Firmo team tasked with tokenizing assets on eToro platform

His portfolio also includes providing consultancy services for many blockchain companies such as Bancor and Colu, as well as working as an advisor to governments, banks and large corporations on matters related to the crypto technologies, according to information he wrote on his LinkedIn profile.

Ross will Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term his expertise in Firmo to help eToroX bring financial contracts to the blockchain with a domain-specific language, which translates smart derivative contracts to all major blockchain platforms.

The company said in its statement announcing the takeover that Firmo team will act as an internal innovation unit and will be focused on tokenizing all assets on the eToro platform. This assignment includes research and creating up a blockchain-based infrastructure for the representation of relevant assets and the execution of trade processes.

Created last year, eToroX is tasked with defining and executing eToro’s vision around blockchain, including its upcoming crypto exchange, and the development of crypto assets. Last year, the company unveiled its own proprietary cryptocurrency wallet. The company also has recently secured Gibraltar’s financial services watchdog’s bespoke license for blockchain firms using distributed ledger technology.