Zooko Wilcox has stepped down as CEO of Electric Coin Company, which developed the privacy-focused cryptocurrency Zcash (ZEC).
ECC announced a leadership change on Dec. 18, with Josh Swihart promoted to replace Wilcox.
According to LinkedIn, Swihart previously worked at ECC as one of the company’s vice presidents of growth from October 2018 to August 2023, but took four months off to work as a part-time investor at Denver Angels, an investment services firm in Colorado.
“We are confident in Josh’s leadership as we find product-market fit, drive new partnerships and collaborations, improve Zcash usability, and increase adoption,” ECC said in a Dec. 18 post.
“In addition to his vision for ECC and his optimistic passion for Zcash, Josh has a strong entrepreneurial, technology and product background,” the company added.
I couldn’t start anywhere else, but I would like to express my gratitude and respect. @zooko. He brought Zcash to life and has been a standard-bearer not only for the project but also for human freedom. he is a hero
— Josh Swihart (@jswihart) December 18, 2023
Swihart said the company will focus in the coming months on increasing the usability of Zcash through user-centric products and putting ECC in a better position financially.
Wilcox, a self-described “human freedom maximalist,” reflected positively on his time building Zcash from the ground up in a December 18 Medium post.
“It was truly an amazing experience. I will always be grateful for the opportunity to make one of my science fiction dreams come true in reality.”
But Wilcox said it was best for him and the company to part ways. “I don’t think this combination of Zcash and me is healthy for me personally, and I don’t think it’s healthy for Zcash,” he said.
“Zcash’s role in human history is, and will continue to be, far greater than that of any single individual,” Wilcox added.
The Zcash co-founder admitted that he clashed with Swihart over how best to develop Zcash, but said the two never agreed on the “why.”
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Wilcox will continue to serve as a member of the board of directors of Bootstrap Project, ECC’s parent company. Alan Fairless, Christina Garman, Michelle Lai and Zaki Manian also sit on its board.
Zcash is a privacy-focused blockchain and cryptocurrency launched on October 29, 2016. ECC was established two years ago in 2014.
Zcash is based on Bitcoin’s codebase and, like Bitcoin (BTC), has a fixed supply of 21 million coins.
According to CoinGecko, this news did not have a significant impact on the price of ZEC, which is currently at $28.8.
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