Potential Unicorn Qtum, a blockchain application platform that combines the advantages of Bitcoin Core, an Account Abstraction Layer allowing for multiple virtual machines, and a proof-of-stake consensus protocol aimed at tackling industry use cases, has added veteran investor Jeffrey Wernick to its advisory board. Warwick’s 40 years of experience include investments in Uber and Airbnb, after which he turned his focus to bank transactions, lending platforms, and the blockchain industry. His advisory role will help guide Qtum’s international growth and development strategies.
“I meet with many people in the blockchain and cryptocurrency community, and what impressed me about Qtum is the people and their pursuit of intellectual integrity,” shared Wernick. “Qtum is committed to decentralization, and their approach to blockchain is more constructive and adaptive than anything else I’ve seen. Qtum is committed to open source where greater privacy is preserved, and greater benefits accrue to everyone participating in the ecosystem.”
Wernick began his career trading options and futures while studying at the University of Chicago. He later worked at Salomon Brothers, then became the youngest Senior Officer at the National Bank of Detroit. He then launched a tech-focused venture capital firm and created a hedge fund to invest in distressed and bankrupt companies, helping to restructure their balance sheets. As an angel investor, his focused expanded to the sharing economy, biomedical, and blockchain technologies, all while keeping under the radar.
[clickToTweet tweet=”Seasoned #airbnb #uber investor Jeffrey Wernick Joins @QtumOfficial Advisory Board @fintechinsider_ #blockchain” quote=”“I meet with many people in the blockchain and cryptocurrency community, and what impressed me about Qtum is the people and their pursuit of intellectual integrity,” shared Jeffrey Wernick.”]
“I have always kept myself anonymous, extremely private, and avoided any recognition of my name. However, now I think the work being done in the blockchain ecosystem and, specifically with Qtum, it is vitally important to be building platforms that are decentralized and trust reinforcing; so, I am going all in,” Wernick added. “I have been involved in the crypto world since 2009, and in that year I began speaking to small groups explaining the innovation of bitcoin and blockchain and how transformative this will become.”
Singapore-based Qtum also recently announced its network launch, Ignition, a groundbreaking blockchain platform which provides the first decentralized governance protocol and proof-of-stake consensus mechanism for smart contracts. Blockchain industry leaders are increasingly looking to Qtum to solve complex issues of scalability and deliverability for their projects, and Qtum delivers a smart contract platform running on a proof-of-stake consensus for the first time.
“We’re committed to growing Qtum with guidance from the most experienced minds in technology and finance, and we welcome Jeffrey Wernick as part of this mission,” stated Qtum co-founder Patrick Dai. “His background in trading, quantitative research, and venture investment gives him unmatched insights.”
This past August Qtum Skynet includes a Decentralized Governance Protocol (DGP), which will allow Qtum to modify its blockchain parameters without hard-forking the network, allowing for seamless network upgrades. This passive-fork technology allows parameters including block size, block time, and gas fees to be changed by a blockchain monitoring smart contract and community stakeholders. With this DGP technology, Qtum’s blockchain becomes self-regulating, self-modifying, and self-aware.
“Stability comes in many forms, and secure software is just one part of the equation. A healthy forum to discuss governance is important to blockchain communities,” noted Dai, who was recently named on Forbes China’s Top 30 Under 30 list for his contributions to consumer technology.
The Decentralized Governance Protocol was designed to work flawlessly within Qtum’s new proof-of-stake implementation known as “Smart Stake.” This reportedly marks the first time the industry has access to a working smart contract platform running on a proof-of-stake consensus, allowing customers and businesses to use smart contracts on mobile devices while being able to stake their Qtum holdings to secure the network. This past summer Qtum became a founding member of the Trusted Internet of Things Alliance and added one of China’s most notable entrepreneurs and angel investors, Charles Xue, as a strategic advisor.
“I’ve met dozens of Chinese and international blockchain projects lately,” indicated Charles Xue. “The Qtum blockchain is by far one of the most innovative.”
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