Electric Coin Company is developing Zcash (ZEC), a cryptocurrency that prioritizes users’ privacy, and Zooko Wilcox is resigning from his position as CEO of the company. On December 18th, ECC announced a leadership shift, elevating Josh Swihart to take over for Wilcox.
In the past, Swihart held the position of one of the vice presidents of growth at ECC from October 2018 until August 2023. However, he took a four-month leave of absence to work as a part-time investor at Denver Angels, an investment services organization located in Colorado, as reported by LinkedIn.
An announcement made by ECC on December 18 stated, “We feel confident in Josh’s leadership—in finding product-market fit, unlocking new partnerships and collaboration, improving Zcash usability, and increasing adoption.”
Wilcox speaking about the history of privacy on the internet. Source: ECC/YouTube
” In addition to having a vision for ECC and an optimistic passion for Zcash, Josh possesses a strong background in product development, technical expertise, and entrepreneurship,” the company said in the statement.
Over the next few months, Swihart stated that the company will concentrate on improving ECC’s financial condition while also focusing on boosting the utility of Zcash through the development of user-focused solutions.
In a piece that he published on Medium on December 18th, Wilcox, who describes himself as a “human freedom maximalist,” expressed his favorable thoughts regarding his time spent establishing Zcash from the bottom up.
“It has been an incredible experience, and I’ll always be grateful that I had the opportunity to live out one of my science fiction dreams in reality.”
Wilcox, on the other hand, stated that it would be favorable for him and the corporation to split ways. He expressed his opinion by saying, “I do not believe that this conflation of Zcash with me personally is healthy for me, and I do not believe that it is healthy for Zcash’s.”
The role that Zcash plays in human history is and will continue to be considerably larger than that of any single person, Wilcox continued. The co-founder of Zcash admitted that he and Swihart had disagreements on how to move Zcash forward in the most effective manner, but he made it clear that they never had a disagreement on “why.”
In his current capacity as a director on the board of directors of the Bootstrap Project, which is the parent corporation of ECC, Wilcox will continue to serve. In addition to Zaki Manian, Christina Garman, Alan Fairless, and Michelle Lai, that board also includes Zaki Manian.
In the same way that Bitcoin (BTC) has a fixed quantity of 21 million coins, Zcash is based on the codebase of Bitcoin. The announcement did not significantly affect the price of ZEC, which is currently $28.8 according to CoinGecko.