Zooko Wilcox, co-founder of Electric Coin Company, which develops a privacy-focused cryptocurrency. Zcash ZEC
-3.88%
I resigned from my position as CEO.
“Electric Coin Co’s Board of Directors, comprised of Alan Fairless, Michelle Lai, Zaki Manian, Christina Garman and myself, has decided to appoint Josh Swihart as CEO of Electric Coin Co,” Wilcox wrote in a blog post.
Swihart has been with ECC for five and a half years, first as the company’s director of marketing for seven months in 2018 and then as SVP of growth for the past two years.
“I have known and worked with Josh for a long time,” Wilcox wrote. “He and I often disagreed about how we should do things, but we never agreed on why. We have a mission to put irrevocable sovereign economic freedom in the hands of every person on the planet. I share it.”
Wilcox said in a statement that he will continue to serve as a board member of Bootstrap Project, ECC’s parent company.
Zcash says no
The price of Zcash fell on the news, down 5.9% over the past day to $28.46, according to The Block’s Zcash price page. The protocol uses zero-knowledge proofs to protect a person’s wallet balance and transaction history while ensuring both are accurate.
“Zcash had taken over not only my life, but my identity. It was difficult for others to see Zcash as separate from me, and sometimes it was difficult for me to do so myself,” Wilcox wrote. “So what do I do now? This transition has been like waking up from a dream. I’m still blinking and rubbing my eyes, thinking about all the exciting new technologies that are coming and what impact they could have on us and our society. I “Everything we can promise must focus on human freedom, because freedom is what gives life to everything we love and cherish.”
Zcash’s price performance. Image: Block Pricing Page
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