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Blockchain Startup Po.et Nabs Former Washington Post VP as Its New CEO

Blockchain startup po. Et nabs former washington post vp as its new ceo

Blockchain Startup Po.et Nabs Former Washington Post VP as Its New CEO

Blockchain startup po. Et nabs former washington post vp as its new ceo

Po.et, a blockchain startup that allows content creators to create time-stamped titles for their written, visual and audio work, has announced Jarrod Dicker, who has held positions at the Washington Post, Time Inc. and Huffington Post, as its new CEO.

It may be the perfect match. Po.et wants to change the way content creators manage their work and Dicker has a history of ushering traditional news outlets into the digital age, so they are not solely reliant on advertising and subscriptions.

Dicker left his position as VP of innovation and commercial strategy at the Washington Post to join Po.et.  

“At Po.et, we are constructing what this industry needs  —  a new environment where creators are paid for what they can do instead of what is required of them by an old and broken paradigm,” he wrote in a blog post announcing the move. He explained that he left his former position at the Post because “I believe in that future.”

Dicker’s role at Po.et will be to oversee strategy and engineering and product development on the Po.et platform. He will also oversee Frost, an API and set of development tools that Po.et launched last week for content creators and bloggers.

In a statement, Dicker said he plans to leverage his experience “across media, education and corporate America to elevate this platform as the standard for digital content ownership rights.”

After joining the Washington Post, Dicker helped form the RED team, which stands for research, experimentation and development. Prior to that he worked at RebelMouse, a company founded by the core Huffington Post technology team, where he helped build the company’s future content management system. He also worked at Time Inc., taking the lead on emerging products, and at Huffington Post, originating native advertising.  

“Jarrod’s unique vision enables him to drive creative, scalable products and evangelize innovation,” said Tyler Evans, board member of the Po.et Foundation in a statement. “We look forward to his enthusiasm for media and track record of building cutting-edge technology for publishers to Po.et.”

Po.et. provides tools to publishers and content creators who want to automate the licensing process without involving third parties. All content licensing terms are enforced by smart contracts. Contract details, as well as ownership rights and other descriptions are then hashed and cryptographically registered on the bitcoin blockchain.

Po.et, which held a token sale on August 8, 2017, now boasts an online community of more than 40,000 developers and creators on social media platforms, such as Telegram, Reddit and Twitter.

In addition to his role as CEO at Po.et, Dicker sits on the board of advisors for Rutgers University Center for Innovation Education and MOGUL Inc., a technology platform that enables women to share ideas and access content based on their personal interests. Dicker also supports a Carnegie Mellon University program on the value of social advertising in publishing. 

Published at Tue, 13 Feb 2018 17:34:56 +0000

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Bitcoin Bites Back: Wells Fargo in Court After Halting Exchange Transfers

The parent company of cryptocurrency exchange Bitfinex, iFinex, is suing Wells Fargo over disruption to wire transfers.


Bitfinex: Court Move To ‘Prevent Precedence’

Court documents filed by the company, along with fellow conversion service Tether.to in San Francisco, relate to the global bank allegedly blocking outgoing wire transfers to the banks servicing them.

“Wells Fargo has suspended U.S. dollar wire transfer operations needed to remit to plaintiffs’ customers U.S. dollars that the customers deposited with plaintiffs to purchase digital currency,” the complaint reads.

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It adds that the bank’s actions were “causing imminent and irreparable harm to plaintiffs.”

In additional comments on Reddit, Bitfinex spokesman commented that the lawsuit was to “prevent precedence” and that if nothing was done, the phenomenon could repeat itself with other cryptocurrency businesses.

He said:

“We’re not going to rollover for action like this. It’s precisely why we have increased our legal department.

“The decision to initiate legal action is because we cannot allow precedence in this industry where clearing houses can disrupt businesses that are by all metrics complying with the rules in place.

“If we allow them to simply flip a switch and disrupt business, then there becomes a precedence in the bitcoin industry beyond just Bitfinex, so we believe it is the appropriate time to take action to prevent precedence.”

Fickle Banks Meet Their Match At Last

The decision to disrupt liquidity flow for the two services could well represent the most severe instance of a bank declining service to cryptocurrency businesses.

Previous instances include Venezuelan exchange Surbitcoin’s temporary shutdown due to a banking refusal, while flagship New Zealand exchange bitNZ disappeared for good after operating for six years due to its bank’s sudden decision to cut ties.

Not just exchanges, but entities from across cryptocurrency have felt the effects of banks’ changing whims. UK news resource Coinjournal had its bank account frozen by Barclays in September last year, allegedly over connections with bitcoin.

Regulations Bite Poloniex in Washington State

Meanwhile further up the West Coast, Washington State is to lose services from another bitcoin exchange, this time Poloniex.

In a circular to customers, “careful consideration of the Washington State Department of Financial Institutions’ interpretation of its financial services regulations” had resulted in the suspension of service for residents “until further notice.”

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Customers affected have two weeks from April 6 to remove funds from their accounts. Before the deadline, they are also prohibited from “opening new margin positions, adding to existing ones, and lending funds.”

Bitfinex itself exited Washington State for the same reasons back at the beginning of March. Unlike Poloniex, however, the exchange hinted there would be no return, and its users had markedly less time to react.

What do you think about the Wells Fargo case? Let us know in the comments below!


Images courtesy of Shutterstock, poloniex.com

The post Bitcoin Bites Back: Wells Fargo in Court After Halting Exchange Transfers appeared first on Bitcoinist.com.