Bancor is developing a solution for the liquidity challenges faced by the long tail of cryptocurrencies
Yoni Assia, CEO and founder of social trading network eToro, is the latest addition to the blockchain startup Bancor Protocol advisory board.
“I am very excited to join the Bancor advisory board and to promote the protocol and its benefits. This technical solution for token exchange will create massive efficiencies in the new financial world which may help speed up adoption and the transition from the traditional economy we are all waiting for,” said Mr. Assia.
Mr. Assia has long been a supporter of cryptocurrency and blockchain technology. His firm recently announced that bitcoin and ethereum trading increased by 4,500% at eToro.
“We couldn’t be more honored to have a seasoned entrepreneur like Yoni join us on the Bancor journey. We have worked side by side in the industry for years and are finally combining our efforts for the good of users everywhere who will benefit from continuously liquid smart tokens,” said Guy Benartzi, CEO of Bancor.
The Bancor Protocol is a smart-contract-based token conversion protocol which enables a single party to convert any token to another without requiring a second party to exchange with. Its native token (BANCOR) will be the first currency issued using its protocol. It will be introduced through a crowdsale launching May 30, 2017.
The Israeli Bitcoin Association Chairman, Meni Rosenfeld, joined Bancor’s advisory board most recently. The mathematician is said to advise Bancor executives as the company develops its technical solution for the liquidity challenges faced by the long tail of cryptocurrencies.