Former Morgan Stanley employee joins Factom

Following the steps of former JPMorgan Chase executive Blythe Masters and former Managing Director Paul Camp, Jacob Dienelt has quit the Morgan Stanley to join the cryptocurrency ecosystem as head treasurer of Factom. It is a Bitcoin 2.0 company that creates notarized audit trail using blockchain technology.

Dienelt said, "After two years traveling to Bitcoin conferences, mining, and running a paper wallet company, I'm glad to have found a home in the space. Factom is the first non-financial application of the distributed ledger technology that will, over the next decade, change how people prove their data is authentic, and so much more. I spent almost ten years at Morgan Stanley, and I'll miss my friends and clients dearly. I just couldn't miss an opportunity to help shape such an important ecosystem as it develops. I'm very excited to be working with [founders] Paul, David, Peter, and the rest of the team."

Factom has been in news recently following its partnerships with Tether, offering notarized audit trails for the Internet of Things with Rivetz, and documenting gold exchange trades with Serica.

David Johnston, Chairman of the Factom Foundation, welcomed Dienelt to the company, and said, "As the world's large companies and institutions begin adopting blockchain technology, it naturally follows that their top people will get involved in projects such as Factom in order to be leaders in that transition."