Zcash Founder Zoko Wilcox Resigns From Electric Coin, Names New CEO
Zoko Wilcox, the team behind privacy-focused cryptocurrency Zcash (ZEC), is stepping down as CEO of the electric coin company.
ECC announced a leadership change on Dec. 18, with Josh Swihart promoted to replace Wilcox.
Swihart previously worked at ECC as one of the company's vice presidents of development from October 2018 to August 2023, but took a four-month leave to work as a part-time investor at an investment services firm in Denver, Colorado, according to LinkedIn.
“We feel confident in Josh's leadership – finding product-market fit, opening new partnerships and collaborations, improving Zcash usage and increasing adoption,” ECC said in a Dec. 18 post.
“In addition to ECC's vision and optimism for Zcash, Josh has a strong entrepreneurial, technical and product background,” the firm added.
I can't begin anywhere but to give my thanks and respect to @zooko. He breathed life into Zakash and has been a beacon – not only for the project but for human freedom. He is a hero.
— Josh Swihart (@jswihart) December 18, 2023
Swihart said the company will focus on developing Zcash's consumer-focused products and improving ECC on a financial level in the next few months.
Wilcox — a self-described “humanitarian libertarian” — reflected positively on his time building Zcash from the ground up in a Dec. 18 Medium post:
“It's an incredible experience, and I'm forever grateful for the opportunity to truly live out one of my science fiction dreams.”
However, Wilcox said it was best for him and the company to part ways. “I don't think this conflict with Zcash is healthy for me, and I don't think it's healthy for Zcash,” he said.
“Zcash's role in human history is, and will be, far greater than any individual,” Wilcox added.
The Zcash founder admitted to clashing with Swihart about how best to take Zcash forward, but said the two never agreed on the “why.”
Related: Binance Launching Monero, Zcash, and Other Privacy Coins Was a Mistake
Wilcox remains a director on the board of Bootstrap Project, ECC's parent company. Allen Fairless, Christina Garman, Michelle Lai and Zacky Manian are also on that board.
Zcash is a privacy-focused blockchain and cryptocurrency launched on October 29, 2016. ECC was founded two years ago in 2014.
Zcash is based on Bitcoin's codebase and has a fixed supply of 21 million coins like Bitcoin (BTC).
The news did not have any material impact on the price of ZEC, which is currently at $28.8, according to CoinGecko.
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