Bancor Protocol, the standard for the creation of intrinsically tradeable cryptocurrencies or ‘Smart Tokens’, has announced that mathematician and Israeli Bitcoin Association Chairman Meni Rosenfeld is joining its advisory board.
After completing his studies in 2009, Rosenfeld became the head of research at SimilarWeb, where he was in charge of developing algorithms for measuring connections between websites and analyzing web traffic. In early 2011, he discovered bitcoin and studied and discussed Satoshi’s Bitcoin white paper from a mathematical perspective.
Rosenfeld founded Israel’s first bitcoin exchange service, Bitcoil, while performing mathematical research on the algorithms that underlie the functioning of the Bitcoin and blockchain system. He became chairman of the Israeli Bitcoin Association in 2013.
“We’re honored to have a professional of Mr. Rosenfeld’s stature and expertise on the Bancor Protocol advisory board,” said Guy Benartzi, Chief Executive of Bancor. “Meni has already been an invaluable asset as we composed our white paper and token pricing formulas, and we look forward to his guidance as we continue to build Bancor.”
According to the official release, Rosenfeld has closely examined the concepts presented in Bancor's white paper. He will advise Bancor executives as the company develops its technical solution for the liquidity challenge faced by the long tail of cryptocurrencies.
“I was skeptical at first about the merit in trying to come up with new ways to provide market liquidity. As I explored Bancor's approach, I was pleasantly surprised to realize the value it can bring, as simple as its main ideas are,” said Rosenfeld. “Bancor can offer real advantages over previously known systems, and I'd like to help it do so. This is why I accepted an advisory role and am looking forward to being an active mentor to the team and initiative.”
