A prominent Ethereum co-founder has resigned from cryptocurrency due to safety concerns.

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Despite co-founding the world’s second-largest cryptocurrency, Anthony Di Iorio argues that society does not require digital assets.

Anthony Di Iorio, co-founder of Ethereum, has declared his decision to leave the crypto sector, citing worries over his personal safety.

According to a July 17 report from Bloomberg, Di Iorio is looking to sell his digital asset firm Decentral and sever ties with all other crypto projects he is currently involved with, stating that he no longer feels safe as a result of his elevated profile within the crypto sector:

“It’s got a risk profile that I am not too enthused about. I don’t feel necessarily safe in this space. If I was focused on larger problems, I think I’d be safer.”

Di Iorio, who has a background in web development, was one of the eight co-founders who began working on Ethereum in 2014. In 2016, he was named chief digital officer of the Toronto Stock Exchange, and in recent years he has concentrated on venture capital investment and startup advising.

The 48-year-old Canadian entrepreneur created blockchain startup Decentral in 2016, which operates Jaxx Liberty, a multi-platform bitcoin wallet with over one million users.

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Since 2017, Di Iorio has traveled with a security team. In 2018, Forbes estimated his net worth to be as much as $1 billion, featuring Di Iorio in its crypto rich list for the year. During the same year, Di Iorio was further cast into the limelight after buying the largest condo in Canada for $22 million and using crypto for part of the payment.

Di Iorio now intends to sell Decentraland for “hundreds of millions,” emphasising that he will only take cash or shares in another business as payment, and will not consider cryptocurrency proposals.

In addition, the entrepreneur stated that he does not intend to invest in blockchain businesses in the future.

Iorio has joined Project Arrow, which intends to construct Canada’s first zero-emission car, in an effort to discover additional charitable endeavours, with the entrepreneur claiming that cryptocurrency can only help with a tiny percentage of the world’s problems:

“I want to diversify to not being a crypto guy, but being a guy tackling complex problems. I will incorporate crypto when needed, but a lot of times, it’s not … It’s really a small percentage of what the world needs.”

Only Vitalik Buterin, one of Ethereum’s eight co-founders, is still actively working on the blockchain technology.

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Charles Hoskinson and Gavin Wood have launched competing blockchains, Cardano and Polkadot. Mihai Alisie and Joseph Lubin founded companies focused on Ethereum applications and development, AKASHA Project and ConsenSys, respectively.

Amir Chetrit and Jeffrey Wilcke, the surviving founders, have made similar steps as Di Iorio by quitting bitcoin to focus on other sectors.

 

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