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Tezos to launch its coin after seven months combat

Feb 23, 2018 Posted /  3451 Views

Tezos to launch its coin after seven months combat

Tezos recorded to be highest ICO in July by collecting $232 million and the organization was going to launch its digital coin but got caught up in a quarrel between the president and the co-founders of the company. After seven months of long break, the fight has come to an end but not at a good point.

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The president of Tezos, Johann Gevers was responsible to manage launch and development of the product. On Thursday he resigned from his post demanded by co-founders Ivy League-educated Kathleen Breitman and her husband Arthur Breitman. As per Breitman's the swiss trustee, Gevers was involved in defalcation of funds and was “[acting] as a roadblock to the mission.” On the other hand, Gevers blamed Breitman's for their actions against the development of Tezos.

The clearance of conflict has finally allowed Tezos to launch its virtual token, Tezzies based on its own blockchain technology aiming to offer “smart contracts” contending the second most cryptocurrency, Ethereum. Pre sale of token encountered a surge of 10% after the announcement.

After resigning from his position, Gevers shared the news on Twitter saying:

“TEZOS ACHIEVES IMPORTANT MILESTONE, After months of very hard work under extremely difficult conditions, I’m very happy that we’ve achieved a good resolution that optimally serves the interests of the Tezos project and the wider crypto ecosystem.”

In an earlier interview with Fortune, the co-founder of Tezos, Kathleen Breitman told that they are looking forward to launch their coin by February 2018 and now we have already reached at the ending of the month. At UCLA, she stated that they are thinking of doing something unexpected and Tezzies will be released within few weeks. Further talking about her previous months' experience Breitman told at the UCLA Cyber days event that they were sure to find a way-out from the conflict.

“For a while I felt like I was being gaslit, But then I just kind of unburdened myself from the morality of it; I was like, well you know, we’re going to have to launch, we’re going to have to find a way; it’s clearly not going to be with this jackass.” – Breitman

In a statement, Tezos representative also commented that Johann Gevers stepped out willingly to  “optimally support” the project.

As per the sources, Gevers will be replaced by a Tezos investor, Ryan Jesperson who is also a fintech startup executive. Jesperson is a resident of Otah and will be relocating to Zug, Switzerland for the job. Jesperson filed a petition in the previous month for the assigned job responsibility.

In a recent email conversation with Fortune, CEO Kathleen Breitman stated: “We welcome the new Board members at the Tezos Foundation, and we and Dynamic Ledger Solutions remain fully dedicated to the Tezos project.”

Now it is to be seen whether the new leaders of Tezos will be able to take Tezos to the heights where they aim to and stand to their promise.

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