Proof of Trust, a blockchain-based platform that brings immutability and distributed trust for smart contracts and data storage, is announcing a brand shift away from its former company name iCash to signal its reiterated responsibility to its key stakeholders.
This new chapter entails a new executive suite and communications materials, such as a new website, TheProofOfTrust.com, and whitepaper that illustrates the company’s new direction. The signature Proof of Trust protocol takes the risk out of smart contracts so they can gain institutional adoption by validating data inputs before they are dedicated to the blockchain.
Taking the helm as chief executive officer (CEO) is Joseph “Jay” Arcata III, who brings years of business formation and legal regulatory expertise to the table.
Jay spent several years as a partner at Connecticut law firm Halloran Sage, where he founded and was the head of the Cybersecurity, Data Privacy, and Technology practice group, where he lent insights on nascent technologies to his clients, including on smart contracts.
“I am thrilled to be joining the Proof of Trust team,” says Arcata. “I am equally excited to play a role in the development of the company and its namesake smart contract platform, which I believe will serve as a fundamental component of all smart contract transactions in the future.”
Also joining the new Proof of Trust C-suite are Carol Lin Vieira as its new chief marketing officer (CMO) and Adnan Akhand, BX3’s vice president of accounting and compliance as the new Proof of Trust chief financial officer (CFO). Both come to their new roles with deep knowledge of how to apply their skill sets to this burgeoning niche sector. Vieira has spearheaded marketing and public relations campaigns across numerous industries including blockchain, consumer goods, healthcare, nonprofits, and tax, and has won multiple awards for her PR work. Akhand, a certified public accountant, has assisted companies in an array of sectors and stages of development, from brand-new startups to long-established Fortune-500 corporations.
Rounding out the iCash executive team are advisor Dean Armstrong, QC, a longtime legal expert soon to have published Blockchain and Cryptocurrency: The Legal and Regulatory Challenges, a first-of-its-kind guide written by and for counsel on issues pertaining to a decentralized economy; Dr. Sam Kelly, a blockchain researcher with a deep background in physics and mathematics, as advisor; the Right Honourable Sir Robin Jacob, a foremost IP judicial expert and former patent judge, as advisor; Scott Lanphere, a longtime investment analyst and advisor, as advisor; Rose Schindler, Esq., legal counsel at Greenspoon Marder; as an advisor; Anne Szustek Talbot, a onetime journalist with experience covering asset management, fintech, tax, and litigation, as director of content and public relations; and Sakhib Waseem, an executive-level expert in financial technology, as board director and head of corporate strategy.
Among the first major changes from a visibility standpoint will be a revamped website, TheProofOfTrust.com, that will offer a more straightforward, user-forward experience explaining in layperson’s terms the technology behind the signature protocol, as well as the timeline for future developments on both the business and tech development sides. Alongside its renewed Internet presence, the company is releasing an updated whitepaper to reflect its structure, ownership, and plans for the future. Looking ahead, the company intends to issue a new Proof of Trust token by the end of the second quarter 2019, providing existing token holders with the opportunity to exchange legacy iCash tokens for the PXT token.
“The Proof of Trust protocol will spearhead significant advances in the ability to maximize the value of blockchain technology and is groundbreaking in terms of its sophistication and its ingenuity,” says Armstrong. “Blockchain technology is truly disruptive in its scope and application and will transform the nature of legal relationships across a myriad of industries.”
The platform’s use case is particularly compelling to institutions looking for a cost-effective, secure, and trustworthy tool to provide seamless data transfer into smart contracts. The new leadership and information channels should prove helpful for existing investors and those looking to expand their repertoire of fintech tools.