Concern and uncertainty regarding the Bitcoin virtual currency has reached a peak over the past few months, following the bankruptcy of popular exchange MtGOX and a rapid price drop which left many investors wondering what happened. Many are looking to rebuild faith in the currency, including Facebook"s former Director of Security Ryan McGeehan - who recently left his job at the social media site to work with Coinbase, a popular Bitcoin exchange startup headquartered in San Francisco.
McGeehan made his resignation public on a Facebook post, noting that he is "thankful for the experience". "I"ve decided that cryptocurrency is worth protecting," McGeehan said, "and I"d regret doing anything else right now."
According to McGeehan, his work for Coinbase will include building a much-needed security program for the site. Many note that Bitcoin is plagued by a lack of security features and safety nets, which may be offputting to some. To some extent, the currency is held back by these safety issues, but major hires like this can go a long way to fix the problem. McGeehan"s experience at Facebook could be just what Coinbase needs to get off the ground as a legitimate exchange, and hopefully encourage others to do the same.
Source: TechCrunch | Image via Google