Commonwealth Bank CFO quits, joins EOS cryptocurrency as COO
CBA executive Rob Jesudason has abruptly signed on with the controversial EOS cryptocurrency team.
After less than a year in the role, Commonwealth Bank chief financial officer Rob Jesudason has resigned. His next stop is Hong Kong and Block.one, the firm behind the EOS cryptocurrency, where he will be chief operating officer.
"Blockchain will have a transformative impact on most industries in the coming years and will redefine operating models by streamlining businesses, while also reducing cost and risk," Jesudason said. "Block.one’s technological innovation enables fast, low-cost, and scalable blockchain performance and is laying the groundwork for mass adoption of these new technologies."
Jesudason reportedly informed CBA of his decision last Friday. He might be the latest in a long line of bank executives making the switch to cryptocurrency.
"Rob has a proven track record of success in global financial services, where he has been involved in industry innovation and facilitated regulatory advancement enabling the adoption of new technologies," Block.one CEO Brendan Blumer said in a statement. "His alignment with our organizational priorities of creating compliant, high performance blockchain solutions, is an ideal fit for Block.one, and is an exciting conclusion to our thorough search for the right individual."
The EOS cryptocurrency is currently operated as an Ethereum-standard "ERC20" token on the Ethereum blockchain, but will be launching its blockchain in June. It has grown immensely in the lead up to this "mainnet" launch, in both market cap and team members.
Jesudason's appointment as COO might give an air of legitimacy to the sometimes-controversial EOS coin, as well as the talent needed to successfully launch the project and promote adoption in a compliant way.
EOS might be best known in the public consciousnesses for getting lampooned by comedian John Oliver, but EOS' impending launch might shake up the cryptocurrency space if it goes as planned. Its name isn't an acronym, but some have dubbed it "Ethereum on steroids" for its intended smart contract functionality, scalability and ease of use, and it might be one of the more advanced "Ethereum killer" type coins in existence.
Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, BTC, NANO