The Dash Core team has hired a new chief financial officer to take over financial duties in the rapidly growing organization.
This week the Core team announced the hiring of Glenn Austin as the new CFO. Austin has nearly 20 years of experience in the finance sector, having worked for companies such as Chain IQ, UBS, Morgan Stanley, and Citigroup. According to Austin, his interest in involvement with Dash involves what he sees to be the future of Dash as a globally dominant form of money:
“My interest in the cryptocurrency space has spanned several years, and in that time I’ve found Dash to be one of the most promising projects in the space. Dash’s unique decentralized governance and treasury model has positioned it to be a dominant force in the cryptocurrency space, and I fully believe within the next decade it will become the primary digital currency for payments at retailers globally.”
A further measure to address Dash’s growing pains
The hiring of a new CFO will assist the constantly growing Core team in maximizing its effectiveness. According to Dash Core CEO Ryan Taylor, Austin has the necessary competencies to make this a reality:
“Glenn is a highly-skilled financial professional with well-rounded experience spanning strategy and operations, and after an extensive search we’re confident that he is the right person to enable Dash’s continued growth. His role will help the Dash Core Group optimize its growing operations and manage financial risks within the decentralized governance system that has set the Dash project apart. I’m looking forward to working with Glenn in the years ahead.”
Since early 2017, Dash has grown at a significant rate, as the price rise from around $10 to over $1,600 over the course of a single year led to a significantly larger monthly treasury. As such, the responsibilities of the Core team have grown along with its abilities, leading to growing pains
dealing with the increasingly large ecosystem. The hiring of a new head of business development earlier this year helped offset the burden on the CEO and others dealing with business integrations, and having a full-time CFO may similarly improve Dash Core’s financial turnaround times as well.
Dash’s budget has become extremely competitive
Demands have increased for the Dash treasury at a frenetic pace. At present, over $2.6 million are available monthly to spend to further the ecosystem, or 6,176.72 Dash. Of this, 9,641.05 Dash, or over 156% of the available budget, has been requested this cycle, with nine days left in the voting deadline at time of writing. While a significant portion of requested funds will not be funded this cycle, in future cycles, especially with potential price increases, the ecosystem appears primed for further growth and expansion.