Blockstream appoints Adam Back as CEO

Announcements | October 11, 2016 By:

Open source bitcoin startup Blockstream announced that its board of directors has appointed Dr. Adam Back, the company co-founder, as its new CEO.

Back is known to the bitcoin community as a Core developer and small block supporter, or, at the very least, a supporter of a “measured approach” to scaling. Additionally, according to the press release, Back is a world-renowned applied cryptographer, bringing over two decades of experience working on the most advanced science and technology in the fields of e-cash, digital currencies, distributed computing, and privacy technology.

“I am honored to take on the CEO position at this important phase in the company’s growth and am excited about leading Blockstream to its full potential. We have a world­class team dedicated to building the foundation that will underpin the transformation of finance for years to come,” said Back.

“Adam has extensive practical experience building teams and shipping products as shown by his track record at organizations large and small, such as Microsoft, PI, EMC, and VMware. This is on top of also having an extraordinarily deep technical background in all aspects of cryptography and being the inventor of Hashcash, one of the core concepts used in Bitcoin,” said said Paul Maritz, Chairman, Pivotal, and former CEO of VMware and senior executive with aforementioned companies.

This year, Blockstream saw a successful Series A funding round where the bitcoin blockchain-centric startup raised $55 million, adding to a previous $21 million seed round. It was the beginning of an eventful year for the Blockstream which soon announced a strategic partnership with ‘big 4’ services firm PwC, in March.