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Former Morgan Stanley Official Joins Bitcoin Startup

Avatar Gola Yashu 5 years ago

Former Morgan Stanley Investment Manager Jacob Dienelt recently joined Factom, thereby becoming yet another Wall Street veteran to officially head a Bitcoin company.

The public information available on Dienelt’s LinkedIn page reflects a man of extensive experiences. His tenure at Morgan Stanley, a renowned wealth management firm, extends to around nine years. For the past one-and-a-half year, Dienelt has been busy being the co-founder and executive Vice President of Lazzerbee, a paper Bitcoin wallet company. As it looks, he will continue to hold his entrepreneurship while being Factom’s head treasury on the other hand.

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“After two years traveling to bitcoin conferences, mining, and running a paper wallet company, I’m glad to have found a home in the space,” Dienelt told Reuters.

The inclusion of a Wall Street name into a Bitcoin company instantly reminds us of JP Morgan Commodity’s Head Blythe Masters and NYSE Chief Executive Duncan Niederauer, both of whom left their respective positions to join a Bitcoin startup. These professional relocations became the milestone examples for Bitcoin communities to prove the gradually diminishing gap between the traditional and futuristic finance sector.

For Dienelt, joining a promising Bitcoin venture like Factom could prove a greater step towards a fruitful tomorrow. The Texas-based firm has recently gained extensive media exposure for proposing technologies that could help businesses and organizations track documents easily on a Bitcoin blockchain. As the company’s CEO Paul Snow quoted to the Wall Street Journal last year, their services could literally revolutionize the database management industry by imbedding information on a public ledger.

The credibility of Factom got further proved last week, when it collected a whopping 580 BTC on the very first day of its crowdfunding sale, and still counting.

Undoubtedly, the company is creating itself an attractive profiler. With a Wall Street name backing their disrupting technology, Factom is likely to have a better representation when comes the time of regulations.

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