Chia Network Announces Leadership Transition to Support Scaling Growth
SOUTH SAN FRANCISCO, California, January 19, 2023–(BUSINESS WIRE)–Chia Network, Inc. (“Chia” or the “Company”), founded by Bram Cohen to provide an open-source, public blockchain optimized for real-world adoption, today announced the transition of Bram Cohen from CEO to Chairman, Founder and Chief Technology Officer, and Gene Hoffman assumes the role of President and CEO.
Through this transition, the Company seeks to scale organizational infrastructure to meet the growing demand for access to the Chia blockchain and Chia Network technology, and serve as organizational restructuring necessary to maintain momentum toward the Company’s stated goal of going public. Under Cohen’s leadership, Chia Network created the secure and eminently auditable development language Chialisp and launched the Chia blockchain Mainnet in March 2021, which grew to become one of the most decentralized public blockchains globally. Cohen also built the Chia Network organization to manage and support the Chia blockchain through custom technology development.
“My career has always been centered around innovation. I built Chia because I knew blockchain could get better and we want to keep innovating,” said Bram Cohen, Chairman, Founder and Chief Technology Officer. “Gene shares my vision for a future of safer and more sustainable financial technology. He understands the industry as a cypherpunk himself and has had significant success building the business and commercially deploying our technology. I’m thrilled to have him step in as CEO . role, and I’m lucky to have a team and an organization that is as focused on innovation as I am.”
Focused on bringing security and regulatory compliance to blockchain infrastructure technology, Chia Network demonstrates the real utility of blockchain. Chia is building the tokenization engine for the Carbon Opportunities Fund and leveraging the Chia DataLayer and Chia blockchain to harmonize global carbon inventory data through the Climate Action Data Trust.
“I joined Chia because I believe in Bram’s vision and the work we do,” said Gene Hoffman, president, CEO and director of the Chia Network. “Blockchain needs to improve and I believe we are the organization to lead the development of the industry and the technology; we need to move on from the charlatans running Ponzi schemes and unregistered securities. Chia is implementing infrastructure technology with real-world use cases across businesses, governments and multilateral corporations – and we will continue to innovate.”
The transition came into effect on 1 January 2023. The company does not expect any changes in operations or future plans.
About Chia Network
Chia Network built a better blockchain to power real-world usage and applications. Founded by Bram Cohen, the inventor of BitTorrent, Chia offers a secure, sustainable and regulatory compliant blockchain that sets the standard for the infrastructure of digital currency and inclusive access to global, decentralized finance. Through the innovative Proof of Space and Time consensus algorithm, Chia Network’s open source public blockchain utilizes hard drive space to create the first new Nakamoto Consensus since Bitcoin in 2009.
For more information, visit: https://chia.net/
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Contacts
Chia Network Contacts:
FTI Consulting
Dan Margolis, Laura Ewart (UK) and Parveen Singh
E: [email protected]
Gretchen Lium
Head of Investor Relations
Email: [email protected]
