Former Nike CIO Becomes Bitreserve President

Former Nike CIO Anthony Watson will be joining Bitreserve as its President and COO, according to Fortune.

He had left Nike after serving for only ten months, reportedly because he was looking for more of an urban life than the setting in Portland, Oregon where Nike is located. His move to Bitreserve comes several months later.

Bitreserve uses Bitcoin more as Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term technology, pegging all deposits to fiat currencies and commodities to avoid bitcoin's Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term.

Prior to Nike, Watson was in the banking sector, serving as CIO of Europe, Middle East, and global operations at Barclays. With his knowledge of the goings on in the banking world, Bitreserve rekindled his interest:

"I was itching to make an impact. I wanted to do something that is valuable for people broadly, not just in one industry. And what Bitreserve is looking to achieve really democratizes finance. It’s going to help people all over the world. The financial system is inherently unfair—it’s always the richest who have access, and the poorest don’t have access, or when they do, they have to pay astronomical rates."

Bitreserve, headed by Salesforce co-founder Halsey Minor, has reportedly expanded to 35 employees in five offices and raised $14.6 million in funding.