San Francisco, CA (PRWEB) May 28, 2014
BitGo, a leading Bitcoin security platform, today announced that it has hired Ben Davenport as co-founder and chief product officer. Davenport has extensive experience at Facebook and Google in building world-class products used by millions of people, and will leverage his product vision to help BitGo meet the rising demand for commercial-grade Bitcoin storage and transaction solutions.
Davenport was co-founder of mobile messaging platform Beluga that was acquired by Facebook in 2011 to be the cornerstone for Facebook Messenger. Davenport has continued to lead key product initiatives at Facebook until his departure this month to join BitGo.
Davenport is also a Bitcoin angel investor and active in the Bitcoin development ecosystem, giving him key insights into the importance of security, and specifically multi-signature technologies to secure Bitcoin.
“As I became increasingly involved in the Bitcoin community over the past three years, I realized that the industry must adopt multi-sig in order to provide the security and ease-of-use necessary for Bitcoin to reach mainstream adoption,” said Davenport. “BitGo has the technology and vision to deliver enterprise-grade Bitcoin security solutions on a global scale, and I’m thrilled to be part of the team.”
In his new position, Davenport will oversee customer-oriented product strategy and development for BitGo. Mike Belshe, BitGo chief technology officer and co-founder, will continue to lead development and innovation in the core multi-sig technologies that BitGo has pioneered.
"Ben’s experience, values, and strategic vision make him an exceptional addition to the BitGo founding team.” said Will O’Brien, BitGo chief executive officer and co-founder. “Ben holds the respect of his peers in the Bitcoin community, and will surely help BitGo become a trusted brand at a time when demand for institutional Bitcoin transactions is beginning to gain critical momentum."
BitGo operates a security-as-a-service platform for Bitcoin. The company launched the industry’s first multi-sig Bitcoin wallet in 2013, and has created a range of innovative security products that leverage and strengthen emerging industry standards. In 2014, the company launched BitGo Enterprise™, the first multi-user secure Bitcoin wallet designed for corporations and financial institutions, and BitGo Cold Key™, a multi-sig solution for cold storage.
BitGo’s multi-sig security platform harnesses two powerful Bitcoin security standards: BIP16 (P2SH) and BIP32 (hierarchical deterministic wallets). BitGo uses a “2-of-3 key” configuration whereby three keys are issued for a single Bitcoin address and any two are required to sign a transaction. BitGo’s unique approach to key generation, key management, and corporate treasury policies ensures that funds are protected from theft and loss while remaining easily accessible for day-to-day commercial use.
ABOUT BITGO, INC.
BitGo is a leading Bitcoin security platform, offering multi-sig security-as-a-service. The company offers the industry’s most secure, online Bitcoin wallet and enterprise solutions for corporate treasury and key management.
The company was founded by Mike Belshe, Ben Davenport, and Will O’Brien, veterans in online security, digital currency, and financial technology, and is backed by Silicon Valley investors including Bridgescale Partners, Bill Lee (Remarq, Tesla, Yammer), and Eric Hahn (Netscape, Red Hat, Proofpoint).
BitGo, BitGo Enterprise, and BitGo Cold Key are the trademarks and service marks of BitGo, Inc.
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