Once known for pioneering credit derivatives in the 1990s, Blythe Masters has now been appointed as the CEO at Bitcoin. Bitcoin is the world most well known cryptocurrency start-up. “Cryptocurrencies” are a kind of alternative currencies, or more specifically of digital currencies.
The company is not regulated and does not need a regulator because in the opinion of Ms Masters the company’s business is not that of exchanging, being a custodian or a transmitter of money. Rather, it is a technological means of trading by way of transferring ownership of bitcoins from one person to another. The transfer is made using cryptography to secure transactions and to control the creation of any new units.
It is worth mentioning the attitude of banks, which although they are reluctant to become directly involved with the company, at the same time are extremely interested in DAH’s technology developed by it.
Blythe Masters is now the chief executive of a bitcoin-related startup. The former global head of commodities at JP Morgan is now the CEO of Digital Asset Holdings, which "aims to be a venue for buyers and sellers of financial assets to meet and transact, switching currencies into bitcoin in order to cut the cost and time of settlement and make use of the decentralised 'block chain' as a secure record of transactions," according to the Financial Times.