Bitcoin Dev Greg Maxwell Resigns as CTO of Blockstream

Greg Maxwell and Blockstream have been no strangers to attracting controversy in recent months, but they’ll no longer been doing so in tandem. Maxwell just announced his resignation as Blockstream CTO, reportedly finalized in December, to “spend more time working independently on deep protocol work.”

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Maxwell Started Resignation in November

Bitcoin Dev Greg Maxwell Resigns as CTO of Blockstream
Bitcoin Dev Greg Maxwell Resigns as CTO of Blockstream

Greg Maxwell, the firebrand Chief Technical Officer of sidechain pegging development firm Blockstream, announced his resignation in the bitcoin-dev mailing list on Friday, January 19th.

Maxwell noted that he had “resigned from Blockstream last November,” but that his obligations with the company came to an official close at the end of December 2017. He cited a desire for more independent research possibilities as the main reason for his departure.

Maxwell

Maxwell’s no longer on the Blockstream team page.

Looking back, Maxwell mused:

“We hoped that Blockstream could help act as an anchor of support for technologydevelopment, and in doing so help grow the community. I think that has been a big success. The Bitcoinindustry has matured a lot and today Bitcoin Core gets significant regular contributions from many organizations (including Chaincode, DCI, Blockstream, Coinbase, Bitmain, Blockchain, and probably others that I am forgetting or not even aware of) and a volunteer community much larger and more active than it has ever been before.”

And Maxwell concluded, laissez-faire, that Blockstream would go on with or without him:

“From what I’ve been told Blockstream plans to continue to contribute to awesome technology in Bitcoin–as demonstrated by their Lightning webstore this week–but if they didn’t, that wouldn’t be a problem for Bitcoin.”

At least on the surface, then, the break up is amicable.

Blockstream Patners with NYSE-Operator

Blockstream must take Maxwell’s departure in stride, as they have bigger fish to fry per their new partnership with Intercontinental Exchange Inc (ICE), the owner-operators of the New York Stock Exchange (NYSE).

The bullish collaboration entails Blockstream providing a datafeed to ICE that “will offer information on prices, trading volume and order book for several leading cryptocurrencies, including bitcoin,” per Reuters.

Others, however, were not so enthused on the move. Count among that lot Dr. Emin Gün Sirer, Co-Director of the Initiatives for Cryptocurrencies and Smart Contracts:

More seriously: I advise shorting every company that trusts this metric.

Blockstream’s past history of social media manipulation should make it amply clear that it cannot be trusted for market intelligence.

— Emin Gün Sirer (@el33th4xor) January 19, 2018

What’s your take? Is Maxwell’s resignation from Blockstream good, bad, or neutral news for the cryptoverse? Let us know what you think in the comments section below.


Images via Blockstream, Medium

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