The blockchain space continues to attract talented professionals from mainstream finance. Wachsman, a growing blockchain services company, recently announced that former Senior Vice President of the Technology Investment Banking Group at Jefferies, Michael Chang, would be joining their team.
Wachsman also brought Franklin Bi on board, who had been Vice President and Blockchain Strategy Lead for J.P. Morgan’s Blockchain Center of Excellence before he was hired. In many ways, the story of Wachsman illustrates how strong the growth in the blockchain sector is and why senior level executives are moving into the space from other industries.
After starting as a blockchain-centric P.R. company in 2015, Wachsman has grown from a single employee to more than 90, who are spread out globally. Now they offer a range of event services and industry-specific advisory, in addition to their original P.R. role.
The debate over blockchain has shifted from its potential viability to its implementation. Numerous industry leaders have spoken out in favor of adopting blockchain-based systems as the backbone of their information infrastructure because of the benefits it creates.
FedEx CEO, Fred Smith, recently said of blockchain, “It’s the next frontier that’s going to completely change worldwide supply chains.” With the kind of access to data that blockchain-based systems create, it is easy to see why a major logistics provider would be so confident about the technology.
While the USD 4 billion+ EOS ICO has been all the rage, Alibaba subsidiary, Ant Financial, quietly raised USD 14 billion in a very successful series C funding round.
According to Ant, the fresh funds will support their blockchain, IoT, and AI programs. Alibaba is also seeking ways to use blockchain to stamp out counterfeit goods, as there are widespread problems with intentionally mislabeled food in China’s growing economy.
The newly hired Michael Chang is probably right when he says that blockchain is “The fastest growing industry of our generation” and that “We can all see the growth trajectory for blockchain and digital assets, but organizations seldom have the experience to guide companies through how to best employ the technology.”
Implementation will, of course, be the key to creating blockchain-based solutions that will help companies across the globe to work as efficiently as possible and make the most of a new technology that is growing at a furious pace.
Mr. Chang went on to say that the Strategic Advisory Group that he now heads at Wachsman in New York will advise companies on how to best to use blockchain technology and adapt it to real world situations where it could make a big difference for everyone involved.