{"id":364815,"date":"2018-12-05T20:00:29","date_gmt":"2018-12-05T20:00:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=364815"},"modified":"2019-03-11T20:41:17","modified_gmt":"2019-03-11T20:41:17","slug":"consensys-ceo-is-planning-company-restructure-following-bear-market","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/consensys-ceo-is-planning-company-restructure-following-bear-market\/","title":{"rendered":"ConsenSys CEO is Planning Company Restructure Following Bear Market"},"content":{"rendered":"<p>The continued bear market is taking its toll on cryptocurrency investors, miners, and businesses alike, and has prompted ConsenSys to consider restructuring its business plans so it can adapt to the new market environment and continue to thrive.<\/p>\n<h2>ConsenSys CEO Joseph Lubin Alerts Staff to Major Restructure<\/h2>\n<p>In response to the ongoing &#8220;crypto winter&#8221; that has seen cryptocurrencies like Bitcoin and Ethereum plummet as much as 90% from their all-time high prices, and in recent weeks nosedive an additional 50% as the market participants capitulate, blockchain technology solutions provider ConsenSys will be altering their business strategy to ensure its long-term survival.<\/p>\n<p>In a note to ConsenSys employees from founder <a href=\"https:\/\/uniquehot.com\/tag\/joseph-lubin\">Joseph Lubin<\/a>, who also helped co-found <a href=\"https:\/\/uniquehot.com\/tag\/ethereum\/\">Ethereum<\/a> alongside <a href=\"https:\/\/uniquehot.com\/tag\/vitalik-buterin\/\">Vitalik Buterin<\/a> and Gavin Wood, told his staff the company will be reorganizing, and entering a new phase of the company\u2019s strategy called ConsenSys 2.0, reports <a href=\"https:\/\/www.forbes.com\/sites\/billybambrough\/2018\/12\/05\/bitcoin-bear-market-and-crypto-winter-sparks-ethereum-changes\/#207373cd4fc7\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Forbes<\/a>.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading:\u00a0<\/strong><a href=\"https:\/\/uniquehot.com\/2018\/12\/04\/crypto-bear-market-strikes-ethereum-classic-etc-development-group-folds\/\">Bear Market Strikes Again: Ethereum Classic Dev Shuts Down<\/a><\/em><\/p>\n<p>Lubin explained that the company now finds itself &#8220;occupying a very competitive universe,&#8221; and &#8220;must retain, and in some cases regain, the lean and gritty startup mindset that made us who we are.&#8221;<\/p>\n<p style=\"text-align: center\">&#8220;We must recognize that what got us here will probably not get us there, wherever &#8216;there&#8217; is,&#8221; Lubin added.<\/p>\n<h2>ConsenSys 2.0 Explained<\/h2>\n<p>While employees first learned of the changes this past Friday in a company-wide letter, the new strategy is already being rolled out.<\/p>\n<p>ConsenSys 2.0 will see the company drop underperforming projects and the firm\u2019s investment branch will now function more similarly to a traditional startup accelerator that involves strict deadlines and tougher standards.<\/p>\n<p>The <a href=\"https:\/\/uniquehot.com\/tag\/consensys\/\">ConsenSys<\/a> CEO told <a href=\"https:\/\/breakermag.com\/exclusive-consensys-letter-to-staff-details-major-strategy-shift\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Breaker Mag<\/a> that the company will become &#8220;a lot more rigorous in terms of milestones and timetables,&#8221; and will sacrifice projects with less long-term potential &#8220;if we\u2019ve come to the conclusion that our earlier assumptions were incorrect.&#8221;<\/p>\n<p>ConsenSys 2.0 will center around five &#8220;pillars,&#8221; including further developing the Ethereum ecosystem, funding startups through its venture arm, offering businesses blockchain solutions, providing education about blockchain, and instilling a &#8220;culture of excellence and accountability.&#8221; The firm will hold itself more accountable in the future to ensure profitability during the difficult market climate.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading:\u00a0<\/strong><a href=\"https:\/\/uniquehot.com\/2018\/12\/05\/ethereum-price-analysis-eth-usd-could-revisit-100\/\">Ethereum Price Analysis: ETH\/USD Could Revisit $100<\/a><\/em><\/p>\n<p>Despite the ongoing downtrend, cryptocurrencies like Ethereum have been suffering through for much of 2018, Lubin is undeterred in his beliefs that blockchain and Ethereum will ultimately become a success.<\/p>\n<p>&#8220;In ConsenSys 1.0, we built a laboratory instrumented to prove the moon existed, using complex engineering and math and creative philosophical arguments,&#8221; Lubin elaborated. &#8220;Now we need a streamlined rocket ship to get us there, since the actual proof, ultimately, is in the landing,&#8221; he said.<\/p>\n<p>To put the <a href=\"https:\/\/uniquehot.com\/2018\/12\/05\/bitcoin-drops-nearly-5-approaches-2018-lows-amidst-market-sell-off\/\">market troubles<\/a> into perspective, Ethereum is currently trading at $102 at the time of this writing, down 92% from its all-time high of $1,417.38 back in January of this year. Lubin attributes this to &#8220;riskier assets around the world&#8221; correcting and Bitcoin&#8217;s price &#8220;affecting all the different tokens.&#8221;<\/p>\n<pre>Featured image from Shutterstock.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>The continued bear market is taking its toll on cryptocurrency investors, miners, and businesses alike, and has prompted ConsenSys to consider restructuring its business plans so it can adapt to the new market environment and continue to thrive. ConsenSys CEO Joseph Lubin Alerts Staff to Major Restructure In response to the ongoing &#8220;crypto winter&#8221; that has seen cryptocurrencies like Bitcoin and Ethereum plummet as much as 90% from their all-time high prices, and in recent weeks nosedive an additional 50% as the market participants capitulate, blockchain technology solutions provider ConsenSys will be altering their business strategy to ensure its long-term survival. In a note to ConsenSys employees from founder Joseph Lubin, who also helped co-found Ethereum alongside Vitalik Buterin and Gavin Wood, told his staff the company will be reorganizing, and entering a new phase of the company\u2019s strategy called ConsenSys 2.0, reports Forbes. Related Reading:\u00a0Bear Market Strikes Again: Ethereum Classic Dev Shuts Down Lubin explained that the company now finds itself &#8220;occupying a very competitive universe,&#8221; and &#8220;must retain, and in some cases regain, the lean and gritty startup mindset that made us who we are.&#8221; &#8220;We must recognize that what got us here will probably not get us there, wherever &#8216;there&#8217; is,&#8221; Lubin added. ConsenSys 2.0 Explained While employees first learned of the changes this past Friday in a company-wide letter, the new strategy is already being rolled out. ConsenSys 2.0 will see the company drop underperforming projects and the firm\u2019s investment branch will now function more similarly to a traditional startup accelerator that involves strict deadlines and tougher standards. The ConsenSys CEO told Breaker Mag that the company will become &#8220;a lot more rigorous in terms of milestones and timetables,&#8221; and will sacrifice projects with less long-term potential &#8220;if we\u2019ve come to the conclusion that our earlier assumptions were incorrect.&#8221; ConsenSys 2.0 will center around five &#8220;pillars,&#8221; including further developing the Ethereum ecosystem, funding startups through its venture arm, offering businesses blockchain solutions, providing education about blockchain, and instilling a &#8220;culture of excellence and accountability.&#8221; The firm will hold itself more accountable in the future to ensure profitability during the difficult market climate. Related Reading:\u00a0Ethereum Price Analysis: ETH\/USD Could Revisit $100 Despite the ongoing downtrend, cryptocurrencies like Ethereum have been suffering through for much of 2018, Lubin is undeterred in his beliefs that blockchain and Ethereum will ultimately become a success. &#8220;In ConsenSys 1.0, we built a laboratory instrumented to prove the moon existed, using complex engineering and math and creative philosophical arguments,&#8221; Lubin elaborated. &#8220;Now we need a streamlined rocket ship to get us there, since the actual proof, ultimately, is in the landing,&#8221; he said. To put the market troubles into perspective, Ethereum is currently trading at $102 at the time of this writing, down 92% from its all-time high of $1,417.38 back in January of this year. Lubin attributes this to &#8220;riskier assets around the world&#8221; correcting and Bitcoin&#8217;s price &#8220;affecting all the different tokens.&#8221; Featured image from Shutterstock.<\/p>\n","protected":false},"author":517,"featured_media":355760,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625],"tags":[7162,17196,1946,14610],"class_list":["post-364815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","tag-consensys","tag-consensys-2-0","tag-ethereum","tag-joseph-lubin"],"acf":[],"yoast_head":"\n<title>ConsenSys CEO Reportedly Planning Restructure Following Bear Market<\/title>\n<meta name=\"description\" content=\"The continued bear market is taking its toll on cryptocurrency investors and businesses alike, and has prompted ConsenSys to restructure its business plans.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/consensys-ceo-is-planning-company-restructure-following-bear-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ConsenSys CEO Reportedly Planning Restructure Following Bear Market\" \/>\n<meta property=\"og:description\" content=\"The continued bear market is taking its toll on cryptocurrency investors and businesses alike, and has prompted ConsenSys to restructure its business plans.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/consensys-ceo-is-planning-company-restructure-following-bear-market\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-05T20:00:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-11T20:41:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/10\/Coinbase-Bear-Run.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"668\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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