Vishnu Patankar, Kraken’s New CTO Promotes AI

Kraken, the cryptocurrency exchange, has appointed Vishnu Patankar as its new Chief Technical Officer (CTO).

Vishnu Patankar, Kraken's New CTO, Promotes AI.

Patankar has amassed over two decades of technical experience and collaborated with prominent Fortune 500 companies like Microsoft, Amazon, Intel, and Groupon. He has been instrumental in creating products that have attracted millions of customers worldwide.

At Kraken, Patankar will manage the engineering team and work closely with the company’s leadership to develop the next generation of products and services. He will focus on expanding Kraken’s presence in the most promising cryptocurrency sectors while strongly emphasizing security and prioritizing client satisfaction.

David Ripley,  CEO of Kraken, stated:

“He’s a strategic and technical leader who is well equipped to build and optimize Kraken’s technology to deliver the most secure and scalable product experiences. We’re thrilled to have him join our team.”

Patankar brings technical expertise and business acumen, having significantly developed early scalable decentralized technologies catering to a global customer base. Before joining Kraken, he served as the CTO of StockX, where he played a vital role in the company’s growth and the successful introduction of its NFT solution.

Vishnu Patankar, Kraken's New CTO Promotes AI

 

The newly appointed CTO of Kraken recognizes the increasing significance of artificial intelligence and large language models. He is actively exploring areas where AI can be applied within the cryptocurrency industry.

“It’s hard to ignore the power of AI large language models. Although, it will be interesting to see what business models sustain through the initial hype cycle and journey to product-market fit, revenue and ebitda.

AI and cryptography are both probabilistic, albeit in different ways.”

Patankar mentions “symbiotic domains” between crypto and AI, such as generative AI and customization for NFTs, fraud prevention, and cybersecurity.

“Beyond these, both AI and crypto explore large amounts of data through massive computational power. There are areas in computer science and physics that could lead to further breakthroughs over the next couple of decades. One area I’m excited by is quantum computing and its interplay with factorization of large numbers.”

Kraken has benefited from its decision to remain in Canada, especially when competitors like Binance and OKX announced their plans to exit. Following Binance’s announcement in early May, Kraken experienced a 25% increase in customer deposits in Canada. Similarly, after OKX’s announcement in March, Kraken observed a fivefold surge in downloads of its mobile applications by Canadian customers.


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