Decentral, a leading blockchain company and a division of the Ethereum network, shared the news today that it’s CEO, Anthony Di Lorio, has stepped down from his position. The company has reassigned the role to Maggie Xu.
Decentral Is Changing Gears
Decentral is the maker of Jaxx and Jaxx Liberty. Stationed in Toronto, the company initially gave birth to Ethereum and predominantly focuses on Jaxx-related products and services. It is one of the few cryptocurrency wallets in existence that is driven purely by user experience.
Di Lorio has led the company since it was founded in 2014. In a recent interview, he comments:
I’m excited for what the future holds for the company under Maggie’s direction. I will continue to work with her and the team on a regular basis. I have no doubt that she’ll take the company to new heights.
Di Lorio is not leaving the company entirely. Instead, he’s planning to refocus his energy time, and skills on other areas, such as “philanthropic, educational and health-related initiatives.”
Xu is no stranger to either Decentral or Ethereum’s overall structure. She has worked alongside Di Lorio for the past few years and the company’s product management team. She has also studied with the marketing and business development teams to better understand what she can do for Decentral and what’s expected of her in the future.
Prior to her entry into the crypto space, Xu primarily worked as an attorney. She has since become a tech entrepreneur, which she says makes her the right fit for this role. Discussing Xu, Di Lorio states:
Her experience working in business, legal and tech have prepared her to be multi-disciplinary and agile in navigating the fast-changing cryptocurrency world.
How One Product Is Headed in a Different Direction
Xu’s primary job will be to try and scale Jaxx Liberty and boost the current partner services that it offers. She explains:
I’m honored to lead our rock star team in this new capacity. We’re building a blockchain app that empowers people to take control of their finances and personal data. Over the years, we’ve had millions of downloads because of our focus on functionality and ease of use. Our vision is to make Jaxx Liberty that go-to unifying interface of the blockchain world.
Unfortunately, one of the primary products of Decentral, Ethereum, isn’t doing so hot as of late. Co-founder of Ethereum Vitalik Buterin recently submitted to an interview in which he explains that the company’s network has become rather saturated and congested. There are simply too many new coins being built on the Ethereum blockchain, which remains highly popular for its smart contract capabilities. While the platform is likely to keep building apps in the future, executives are thinking twice before they add any more tokens onto its blockchain.