Coinbase, a Bitcoin exchange headquartered in San Francisco California will now have Ryan McGeehan on board who recently announced on Facebook that he is leaving his role as its Director of Security Incident Response in Facebook. He posted that he will be taking the position that takes care of the security program at Coinbase.
He said that Coinbase where users can buy and sell Bitcoins for US dollars at the current market rate using their United States bank account for a fee of about 1% of the value of the transaction, is one of the best organizations to work for as it provides huge potential for growth. According to Mr. McGeehan it was a great learning experience for him at Facebook.
Ryan McGeehan posted in his Facebook profile that joining Facebook was a big risk, and this will be too, no doubt. However, now he has decided that crypto currency is worth protecting and he would regret doing anything else right now. Welcoming him Coinbase CEO Fred Ehrsam said that his company is attracting very, very top talent from prior rocketships that were successful.
Bitcoin exchanges have been facing a lot of security related problems recently and according to Mr. McGeehan his job at Coinbase will be to build security program. This news not only boosted the confidence of Coinbase customers but also potential customers who feel unsafe after the Mt. Gox collapse recently.
Bitcoin Exchanges Facing Huge Challenge to Secure Their Programs
Coinbase and other Bitcoin exchanges came under huge pressure after Mt. Gox collapsed and filed roughly $400 million in losses. Investors and customers started asking questions to their Bitcoin exchanges and sought for heavy program security. The latest appointment by Coinbase is aimed to strengthen the program security and rule out technical glitches.
Mr. McGeehan is coming after a lot of work experience and expected to do justice to the new job he is in. Observers believe that for Bitcoin to introduce confidence among investors and customers needs to mature, and for that to happen, its network members must do the same. Mr. McGeehan has a tough job to keep Coinbase safe.
Ryan McGeehan’s LinkedIn profile shows that he has worked for the Federal Reserve Bank of Chicago as well for one and half year – this experience will definitely add value to his new job. Besides Mr. McGeehan, another senior Amazon director, Todd Edebohls, is also joining Coinbase as its new vice president of business development.
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