Australian Crypto Exchange Hires Former PwC Executive as CEO

 In Bitcoin, Exchanges

The new boss, Ben Ingram, wants to add new cryptos as currently offers only Bitcoin and Ethereum.

Australian cryptocurrency exchange has appointed the former executive of PwC, Ben Ingram, as new CEO, local media reported on Thursday. Ingram plans expansion of services, including offering of new digital coins.

Ingram did not reveal which new cryptocurrencies will be added and what criteria they should meet to be chosen. At the moment, offers only Bitcoin (BTC) and Ethereum (ETH). The new CEO also aims to broaden exchange services with other crypto-based investment products.

“There’s not many tangible examples of crypto-based investment products yet,” the exchange’s new head told Business Insider Australia.

Ingram was director of digital strategy at the accounting giant Price Waterhouse Coopers (PwC) until March. According to him, the auditing of crypto is “incredibly simple”, due to the characteristics of the technology.

Developed as a distributed ledger technology (DLT), blockchain can track all changes and transactions and thus bring transparency. This can make management of crypto assets easier, especially for millennials, who prefer to “self-manage” their investments, Ingram explained.

“We’re in the early-stage development of a new protocol. I think the core premise of distributed ledger technology (DLT) has very obvious widespread appeal. Even if the tech capabilities at present aren’t capable, I think humans will prevail,” Ingram said.

According to former PwC executive, one of the forms of virtual currency investments, the crypto funds, are starting to emerge as an investment portfolio, “perhaps as a hedge against poorly managed central bank currencies”.

“We know this tech doesn’t have a dead-end. While the evolutionary path hasn’t been fully determined, I think there’s enough evidence that there is a path,” Ingram said.

Ingram is one of several high-profile appointments in crypto market these days, with former Facebook payment executive Kahina Van Dyke named as the new vice president of Ripple, and hiring of Michael Alexander from Jefferies Group.

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