Tezos Foundation announced the hiring of Roman Schnider, the former Assurance Director at PricewaterhouseCoopers(PwC) and Co-creator of its blockchain initiative. Schnider will take on the role of Chief Financial Officer and Head of Operations in summer 2019.
Over the past year, PwC Switzerland has served the role of an independent external auditor of the Tezos Foundation’s finance and business operations. This has allowed Schnider to become familiar with the Foundation and its protocol. Schnider was quoted as saying,
“I sincerely look forward to joining the Tezos Foundation.Together, we will work to serve and support the Tezos community in the most effective, efficient and transparent way possible.”
Ryan Jesperson, President of the Tezos Foundation, stated,
“As the Foundation continues to provide resources to a growing Tezos ecosystem, the CFO and operations lead will be critical to our success.
Roman’s experience makes him the ideal finance and operations specialist for our team. He is already familiar with the opportunities and challenges blockchain projects face and has a deep understanding of the Tezos Foundation from his time at PwC Switzerland.”
Roman Schnider has been with PwC for nearly 15 years and is now going to replace Eelco Fiole, who joined Tezos only five months ago. Schnider had launched PwC’s blockchain and cryptocurrency assurance department back in 2016. His work was not limited to a single field, with Schnider working in various roles with a special focus on investment banking.
Jesperson conveyed his gratitude to Eelco Fiole by saying, “We want to thank Eelco for his contribution to the development of the Foundation and wish him all the best.”
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Bitcoin is an enterprise; its users are comparable to traditional shareholders, claims Goldmoney Founder
Bitcoin was conceived in the backdrop of banks bailouts and the 2008 financial crisis. The recession and the loss of faith in banking, financial institutions gave Bitcoin a platform to rescue the ones affected, giving them hope for a better financial system without the hassle of corrupt institutions. With the rise of Bitcoin’s fame, both in the darknet and in the mainstream, questions about its regulations had to arise.
The question was put to rest when the SEC/CFTC ruled Bitcoin as a commodity and taxed it. However, Goldmoney’s Roy Sebag brought this discussion up again recently in his tweet thread, where he said that Bitcoin as an enterprise is working towards its good, comparing its users to traditional “shareholders” among other things, while concluding that Bitcoin is a security. He tweeted,
“Is Bitcoin a security? <10 years old so regulators haven’t even had enough time to truly learn how it works (think Napster or Kazaa in early days). Miners are clearly issuing coins and responsible for governance, an absence of formal relations among them is irrelevant….”
In successive tweets, Sebag attributed miners with the role of “stewarding” the so-called enterprise. In return, these miners get paid in “direct fees” or in “share appreciation.” In Bitcoin’s case, it is the mining reward, which is “BTC”. Similarly, buyers are compared to “shareholders” with a common interest in the enterprise, i.e. profit. Sebag added,
“Coins trade at exchanges. The common enterprise is designed for the price appreciation of coin.”
Bitcoin could face a shutdown by the government, just like it did with big players in file sharing, said Sebag, who added that Bitcoin could also be interpreted as a security under the “34 act of the SEC.” The Goldmoney Founder concluded that “this realization rests on the belief that neither Bitcoin nor any common enterprise is truly decentralized.”
However, his inputs weren’t very well-received by many in the crypto-community. Casa’s CTO Jameson Lopp refuted Roy Sebag’s ideas, tweeting,
“Roy will believe what he wants to believe, though if he’s not actually participating in Bitcoin then his beliefs are irrelevant to its consensus formation.”
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