- Goldman Sachs veter Martin Chavez will chair the advisory board of EOS developer Block.one
- Block.one recently announced that Google Cloud will be an EOS block producer candidate
- The EOS token lost 13% of its value in the last year
Former Goldman Sach executive Martin Chavez joins Block.one’s advisory board
Former Goldman Sachs executive Martin Chavez is joining the advisory board of blockchain company Block.one as chairman. In his last role at Goldman Sachs, Chavez served as the company’s Chief Financial Officer.
Block.one CEO Brendan Blumer commented on the company’s new hire:
“Marty’s extensive experience guiding a global financial institution, combined with his time spent founding and growing a tech start-up, makes him uniquely qualified to help us meet our goal of promoting universal blockchain adoption.”
Interestingly enough, Chavez is still far from a cryptocurrency die-hard despite joining the Block.one advisory board. In an interview with The Block, Chavez stated:
“There is a coin that is associated with Block.one and that is the EOS coin as you know. In all my discussions with the team, I have been focused elsewhere. I don’t think any of these things are competing with US dollar.”
He added that the EOS public blockchain has potential to play an important role in uses cases that require a decentralized foundation.
Block.one is the company behind EOS, the blockchain project that held the largest ICO of all time, raising over $4 billion in funding. However, the EOS blockchain has so far struggled to fulfill its massive ambitions – the platform’s EOS token is currently the 14th largest crypto asset by market capitalization, losing 13.7% in the last year.
Google Cloud will be an EOS block producer candidate
However, there has recently been another major announcement connected to EOS that could help revitalize the project. Block.one announced that major cloud services provider Google Cloud will be vying for a position as a block producer on the EOS blockchain. Here’s what Google Cloud developer advocate Allen Day had to say about the company’s decision:
“As organizations begin to incorporate distributed ledger technology into their infrastructures, we are committed to ensuring that the information on public blockchains are securely stored, reliably available, and can be accessed in meaningful ways.”
EOS employs a delegated proof-of-stake consensus mechanism, where EOS holders can delegate their tokens to block producer candidates. The top 21 block candidates at any given time are involved in the network’s consensus process.