Zooko Wilcox, the CEO of Electric Coin Company, has announced his resignation and handed over the reins to Josh Swihart, the former VP of growth.
Zooko Wilcox, the creator of Zcash and the founder and CEO of Electric Coin Company (ECC), has decided to step down from his role after leading the development of the privacy-focused cryptocurrency for over five years. Wilcox made the announcement on December 18, citing personal and professional reasons for his departure.
He said that he felt his identity was too closely tied to Zcash, which might not be healthy for him or the project. He also said that he had some disagreements with his successor, Josh Swihart, on the strategic direction of Zcash, but that he respected his vision and leadership. Wilcox expressed his gratitude for the opportunity to realize his dream of creating a cryptocurrency that protects human freedom and privacy.
Josh Swihart is the newly appointed CEO of ECC, the organization that steers the development of Zcash. Swihart joined ECC in October 2018 as the vice president of growth, where he was responsible for finding product-market fit, establishing strategic partnerships, enhancing the token’s usability, and fostering increased adoption. He took a brief hiatus from his role in August 2023, during which he worked part-time as an investor at Denver Angels, an investment services firm in Colorado.
Swihart has a strong background in entrepreneurship, technology, and product development and is passionate about Zcash and its mission. ECC expressed confidence in Swihart’s ability to lead the organization and the project and noted that he brings a vision, a commitment, and a skill set that are essential for the future of Zcash. Swihart outlined his priorities for Zcash under his leadership, which include improving Zcash’s utility through user-centric products, working towards a more robust financial position for ECC, and collaborating with the Zcash community and ecosystem.
Zcash is a blockchain and cryptocurrency that was launched on October 29, 2016, as a fork of Bitcoin. The platform uses a technology called zero-knowledge proofs, which allows users to prove that they own or have sent a certain amount of coins without revealing any other information, such as their addresses or balances.
Zcash aims to provide a more secure and private alternative to other cryptocurrencies, as well as to traditional payment systems. Zcash is considered one of the most influential and innovative projects in the crypto space, and it has a market capitalization of over $1.5 billion, according to CoinGecko.
The news of Wilcox’s resignation did not have a significant impact on the price of ZEC, which is currently trading at $28.8.
