PwC FinTech Lead Joins Blockchain Startup Libra

By July 25, 2016Bitcoin Business

PwC US FinTech lead Jeremy Drane has officially left the ‘Big four’ firm to serve as chief commercial officer for blockchain startup Libra.

Formerly a startup offering tax compliance and reporting software to bitcoin users, the moves comes amid a transition at Libra that finds the startup seeking to establish itself as a "management information layer" for blockchain technologies.

In accordance with this goal, Libra used the announcement to highlight other recent hires from the enterprise finance sector, noting its COO Dave Albert was formerly with BNY Mellon, while VP of product strategy Deepak Rao boasts experience at Visa.

In interview, Libra CEO Jake Benson spoke about larger changes at the company, which raised $500,000 in funding in late 2014.

Benson told CoinDesk: "The marketplace knows us as LibraTax and I want the marketplace to know that that was a stepping stone to where we’re at now." Drane further spoke to the reason behind his departure, voicing his belief Libra can provide an essential service by helping non-technical business execs better utilize blockchain data.

In addition to his larger FinTech role, Drane was also PwC’s blockchain and smart contracts lead.

"Any blockchain is a transactional system, and those transactions will need to be enriched so that business users can execute various business process,” Drane said. Product overhaul

Key to this success, according to Drane and Benson, will be Libra’s enterprise product, which offers a tools layer that allows for both reporting on blockchain and non-blockchain data and an interface layer that allows for this data to be visualized.The company said it intends to continue to offer its prior tax product."Essentially, Libra is focused on reducing the cost, time and risk associated with executing blockchain experiments and implementations, while increasing the probability of funding and executive support as projects move through enterprise software evaluation processes," Drane […]

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