- Sean Ford, currently the Algorand COO, has been designated interim CEO.
- FIFA has appointed Algorand its official cryptocurrency sponsor.
Steven Kokinos, the CEO of Algorand who joined the company in 2018 after creating the software development company Fuze, left in order to pursue “other interests,” although he intends to stay on as a senior advisor till mid-2023.
Focus on Key Projects in Algorand Ecosystem
Kokinos departs from Algorand the business but stays with the blockchain. According to a statement released early on Wednesday morning, Kokinos will “focus on key projects in the Algorand ecosystem that will help scale adoption.” Sean Ford, currently the Algorand COO, has been designated interim CEO.
“Today I want to share with the #algofam that I’m transitioning out of my current role as @Algorand’s CEO to focus on key projects in the @Algorand ecosystem that will help scale adoption.”
The “blockchain trilemma,” which is the notion that no blockchain can accomplish scalability, security, and decentralization at the same time, is addressed by Algorand, which was developed by MIT professor Silvio Micali in 2017. Ford, who also joined Algorand in 2018, previously served as LogMeIn’s chief marketing officer. He has been in charge of Algorand’s go-to-market execution and operations.
Mr. Micali stated:
“We thank Steven for his time and dedication to Algorand. He has been instrumental to the initial success of our business, and we appreciate his commitment to a seamless transition. Sean is well positioned to partner with me to keep the company operations running business as usual, and to help us transition Algorand to our next phase of growth.”
As a platform for smart contracts and decentralized applications (dapps), Algorand has gained traction. LimeWire and Napster are utilizing it for their blockchain initiatives, while FIFA has appointed Algorand its official cryptocurrency sponsor.
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