Open source bitcoin startup Blockstream, notable for its foray into developing sidechains for the bitcoin blockchain will now see a CEO at its helm.
In a recent announcement, Blockstream revealed a unanimous decision by the company’s board of director that saw Blockstream co-founder Adam Back become CEO of the company.
Back held the role of President before his new position and has also operated as the chief operating officer in the past.
Blockstream revealed outgoing CEO Austin Hill will “pursue other opportunities” and has also stepped down from the board.
A prominent academic in the bitcoin space, Adam has notably contributed proof-of-work systems like Hashcash for cryptocurrencies including bitcoin. As a bitcoin advocate, Back is also a principal sponsor of the communal Scaling Bitcoin annual event.
In statements following his new role, Adam stated:
I am honoured 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