Parity Technologies Added Three Executives To Leadership Team

Polkadot builder Parity Technologies added three executives to its leadership team including Peter Ruchatz as the CMO, Eran Barak as the COO, and Fahmi Syed as the CFO so let’s read more today in our latest cryptocurrency news.

Parity technologies the company behind Kusama and Polkadot added three senior hires to round the leadership team alongside CEO Gavin Wood. This is a bullish sign that the Polkadot project is in good health and some other crypto companies appear to be shedding jobs as the industry beds for a prolonged bear market. Barak is a computer science graduate from Tel Aviv University and already held senior roles at Symphony Communications, Thomson Reuters, and Amdocs.

CMO Ruchatz who will lead the Polkadot brand is going to drive the market education and community engagement and he also led senior positions at Salesforce and Microsoft. Syed is the COO at hedge fund FifthDELTA which was launched back in 2021 with $1.25 billion in assets under management but before that he was a part of the non-investment team of Marshall Wace hedge fund.

As recently reported, Parity Technologies’ head of public affairs Peter Mauric says that Polkadot is the only protocol that fits the bill of a blockchain project providing enhanced scalability, security, utilization, and speed. He outlined that the advantages of this blockchain are strong over Ethereum and spoke about the project’s parachains. Ever since the official launch of the network in 2020 three years after the ICO with the sharded heterogeneous multichain protocol enjoying a substantial increase in terms of adoption.

Aside from the DOT price increase in its native token, the blockchain infrastructure became the best space for countless crypto-related projects like stablecoins and DeFi. Mauric described this impressive demand as “people being ready for another revolution and Polkadot is the only protocol which fits the bill.” Being a protocol close to some extent to Ethereum, Mauric spoke about the comparisons between the two but asserted that there are also major differences.

Polkadot developed parachains for roughly a year in light of some of the issues on another network. Parity already outlined plans to create new forms of parachains in order to enhance the deployment of assets, lower the fees and improve the user experience.