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Facebook and Amazon Representatives Join Coinbase Startup
New Additions to Coinbase
Facebook’s Director of Security Incident Response, Ryan McGeehan, has announced that he is leaving the social media site for a security-related position at Coinbase. McGeehan says that his new job will be to “build [the Coinbase] security program.”
In addition, Amazon Director Todd Edebohls is joining the digital wallet company as its new vice president of business development. Coinbase allows users to buy sell and trade bitcoin in one secure location.
The company was co-founded by Fred Ehrsam, and uses multiple API keys along with cold storage to safely store user’s bitcoins. This protects a user’s bitcoins in the event that Coinbase were to get hacked or have to temporarily halt operations.
Ehrsam’s method of operations works to avoid the same issues that labeled Mt. Gox as a failure. He said:
“The industry is continuing to evolve. We’re attracting very, very top talent from prior rocket-ships that were successful.”
Coinbase’s trading platform takes security seriously. The site, much like BlockChain, assures that users have complete control over their funds. API keys make outside access to an account almost impossible, as an outside source would have to be in possession of multiple access keys.
The site consists of over 1,070,000 consumer wallets and 27,000 merchants.
Coinbase is based out of San Francisco, California, and was founded in January 2012.
Ryan McGeehan
McGeehan will bring his experience from Facebook and Chicago’s Federal Reserve Bank to Coinbase’s table. His tenure at Facebook has prepared him for what lies ahead. His statement reads:
“I’ve accepted a role at Coinbase to build their security program starting in April. Joining Facebook was a big risk, and this will be too, no doubt. I’ve decided that crypto currency is protecting and I’d regret doin anything else right now.”
McGeehan is thankful for his time at Facebook and hopes to make the best out of his new responsibility.
With more established names crossing over into the digital currency realm, bitcoin has a better chance at thriving. Through past experiences and knowledge of those who’ve helped to build today’s most dominant internet domains, bitcoin will progress.
For more bitcoin news, stay tuned to Coinreport.net.
