The XYO Network Lands New Advisor, Charlie Shrem

May 14, 2018         By: Steven Anderson

The XYO Network isn’t exactly a household name, offering up a blockchain system that works to provide cryptolocation that both allows for greater accuracy in location provision while also protecting user privacy. Its most recent move—which it dropped word our way about—may help get it some better name recognition in the future, though, as it’s brought on a new advisor in Charlie Shrem.

Shrem, who has previously advised over 12 different digital currency operations, got his start as the founder of the first and largest bitcoin company around, BitInstant. BitInstant currently processes, at last report, one in every three bitcoin transactions out there.

Back in 2013, he expanded his operations to launch the Bitcoin Foundation and take the vice chair slot therein. Now, he’s considered a major force in the cryptocurrency field, having recently started an advisory firm called Crypto.IQ. In fact, some point to Shrem as a leading force behind MoneyGram’s acceptance of cash deposits for bitcoin at over 700,000 locations in the United States alone.

XYO Network’s co-founder Markus Levin noted “Shrem’s first hand experience with both the actual and perceived limitations of digital currency, followed by rapid innovation to overcome them, is exactly what we need to introduce a new cryptolocation technology on a massive and global scale.”

Calling in Charlie Shrem is likely a good idea for anyone looking to bring out anything new and blockchain-related, especially given that the company Shrem started is currently such a substantial force in bitcoin transaction operations. Processing as much of the total as his company does puts that company—and by extension himself—into a good position to tell where the industry’s moving and what direction a company in the field should take to get there. It’s like asking a botanist about what kind of landscaping you should put out; they’re ultimately right for the job.

XYO Network has likely made a good call in bringing in Charlie Shrem, even as it pursues a somewhat unusual use of blockchain technology. Still, every new use is a use that advances the concept, and gives blockchain, mobile payments, and plenty of other areas a lift. Hopefully Shrem’s experience in the field can be the rising tide that lifts all boats here.