Bitcoin startup Bitreserve, which earlier made great news for bringing on board Nike CIO Anthony Watson, has hired the sportswear giant’s chief of security, William ‘Bill’ Dennings.
In a statement released by the startup via its blog, the company said that, “Bill’s leadership will be instrumental as we continue to drive, innovate and fortify world-leading ‘Anti-Money Laundering’ and ‘Know Your Customer’ programs.
Mr. Dennings, who has now become the startup’s first Chief Information Security Officer (CISO), is also the former MasterCard CISO. In a statement released, Mr. Dennings said, “I’m excited to join Bitreserve at a time when the company is establishing itself as a leading cloud money service. Information security extends well beyond IT and customer service in the global payments sector. It’s vital to the secure, instant, easy and free movement of money that Bitreserve offers our members.”
Founded by Halsey Minor, Bitreserve is a cloud-based financial platform that allows users to access, store and transfer currencies and commodities.
New CISO Sued by MasterCard
William Dennings earlier worked as the payments giant’s CISO for 15 years and handled confidential information of millions of people. However, after Mr. Dennings joined Nike in 2013, the payment company sued the former CISO on several charges. Among the new allegations, MasterCard said Mr. Dennings “reconfigured Nike’s network to resemble that of MasterCard using MasterCard’s confidential information.” The credit card company has demanded at least $5 million in damages.
About Mr. Dennings
According to the Bitcoin startup’s blog post, Bill has over two decades of cyber security experience and has been engaged in high-level data and cybersecurity discussions across the United States and abroad. He has consistently provided strategic counsel to the White House, Congress and the Attorney General.
Bill is a pioneer in military and corporate information security management architecture with worldwide impact and scope.