Zooko Wilcox, the founder and CEO of Electric Coin Company (ECC), the team behind the privacy-focused cryptocurrency Zcash, has announced his decision to step down from his role and appoint Josh Swihart as his successor.
In a blog post published on December 18, 2023, Wilcox revealed that he will be transitioning to a new role as a board member and advisor for ECC, while Swihart, the current vice president of growth, will take over as the new CEO. Wilcox said that he made this decision after reflecting on his personal goals and the best interests of Zcash and ECC.
Wilcox wrote:
“I have decided that it is time for me to step aside as CEO of ECC and hand over the reins to someone who can lead the company into its next phase of growth and impact. I am thrilled to announce that Josh Swihart, who has been with ECC since 2017 and has been instrumental in driving our strategy, partnerships, and adoption, will be the new CEO of ECC effective January 1, 2024.”
Wilcox praised Swihart’s leadership, vision, and passion for Zcash, and expressed his confidence that he will be able to take ECC and Zcash to new heights. He also thanked the Zcash community, the Zcash Foundation, and the ECC team for their support and collaboration over the years.
A Visionary Leader and a Privacy Pioneer
Wilcox is widely regarded as one of the most influential and visionary leaders in the cryptocurrency space. He co-founded Zcash in 2016, along with a team of cryptographers and engineers, as a fork of Bitcoin that added a layer of privacy and anonymity to transactions. Zcash uses a novel cryptographic technique called zero-knowledge proofs, which allow users to prove that they own certain coins without revealing any other information about them.
Wilcox has been a vocal advocate for privacy and human rights, and has often spoken about the social and economic benefits of Zcash. He has also been involved in several research and development projects related to Zcash, such as the Halo protocol, which enables recursive and trustless zero-knowledge proofs, and the Zcash Improvement Proposals (ZIPs), which guide the evolution of the Zcash protocol.
Under Wilcox’s leadership, ECC has grown to become one of the most respected and innovative companies in the crypto industry, with a team of over 50 employees and a network of partners and collaborators. ECC has also been committed to transparency and accountability, and has regularly published its financial reports and audits.
A Seasoned Executive and a Growth Expert
Swihart, the incoming CEO of ECC, has a wealth of experience and expertise in the fields of marketing, business development, and product management. He joined ECC in 2017 as the vice president of marketing and business development, and later became the vice president of growth, overseeing the strategy, adoption, and ecosystem development of Zcash.
Swihart has been instrumental in forging strategic partnerships and alliances with various organizations and platforms, such as Gemini, Coinbase, Flexa, and Thorchain, to increase the accessibility and utility of Zcash. He has also been involved in launching and supporting various initiatives and programs, such as the Zcash Developer Alliance, the Zcash Grants Platform, and the Zcash Open Major Grants, to foster innovation and collaboration in the Zcash community.
Swihart said that he is honored and excited to take on the role of CEO of ECC, and that he is looking forward to working with Wilcox, the ECC team, and the Zcash community to advance the mission and vision of Zcash. He said:
“Zooko is a legend in the crypto space, and I am humbled by his trust and confidence in me. I am also grateful for his mentorship and friendship over the years. Zcash is more than just a cryptocurrency, it is a movement for privacy and freedom. I am passionate about Zcash and its potential to empower people and create positive change in the world. I can’t wait to lead ECC into its next chapter and to continue to serve the Zcash community.”
A Bright Future for Zcash and ECC
The announcement of Wilcox’s departure and Swihart’s appointment comes at a time when Zcash and ECC are facing several opportunities and challenges. Zcash is currently undergoing a major upgrade, called NU5, which will introduce a new proof system, called Halo 2, and a new address format, called Unified Addresses, to improve the scalability, security, and usability of Zcash. Zcash is also preparing for its first halving event, which will reduce the block reward and the inflation rate of Zcash, and will also mark the end of the Founders’ Reward, which funded the development of Zcash.
Zcash is also facing increased competition and regulation in the crypto space, as more projects and platforms are offering privacy features and solutions, and as more governments and authorities are imposing rules and restrictions on the use of privacy coins. Zcash and ECC have been actively engaging with regulators and policymakers, and have been advocating for the recognition and protection of privacy rights in the digital age.
Wilcox and Swihart both expressed their optimism and enthusiasm for the future of Zcash and ECC, and said that they will continue to work together to ensure a smooth and successful transition. They also invited the Zcash community to join them in celebrating their achievements and milestones, and in supporting their goals and aspirations.
