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BitTorrent Loses Recent CEO, Adds Crypto-Currency To uTorrent (variety.com)
Longtime BitTorrent executive and recent CEO Rogelio Choy left the company just 6 months after its acquisition by blockchain entrepreneur Justin Sun. Coincidentally, Choy's departure comes just as BitTorrent is doubling down on blockchain tech: The company announced Thursday that it is adding a crypto-currency to its popular uTorrent client.
From a report: Choy had been BitTorrent's chief operating officer from 2012 to 2015. After a 2-year stint at an on on-demand startup, he rejoined the company in 2017 as its CEO. His departure was confirmed by a company spokesperson Thursday, who said that he "decided to pursue other opportunities." One possible point of contention is BitTorrent's increased focus on crypto-currencies: The company announced Thursday that it was adding a crypto token to its popular uTorrent Windows client. The token will initially allow uTorrent users to achieve faster download speeds. The exact reasons for his departure are unknown at this time, but a source close to the company suggested that there had been disagreements about the direction of the company.
From a report: Choy had been BitTorrent's chief operating officer from 2012 to 2015. After a 2-year stint at an on on-demand startup, he rejoined the company in 2017 as its CEO. His departure was confirmed by a company spokesperson Thursday, who said that he "decided to pursue other opportunities." One possible point of contention is BitTorrent's increased focus on crypto-currencies: The company announced Thursday that it was adding a crypto token to its popular uTorrent Windows client. The token will initially allow uTorrent users to achieve faster download speeds. The exact reasons for his departure are unknown at this time, but a source close to the company suggested that there had been disagreements about the direction of the company.
I don't think for a moment that people will just be buying "bandwidth" with this.
Now when you download somebody's digital life works, or other intellectual property, in the form of torrented movies or games, etc. some other unknown third party can directly profit by making it available to you for a little bitcoin? You used to get all this stuff for free, but now there are profit motives involved as well. Who would have thought that some third-party person would eventually learn how to directly profit off of someone else's digital demise. The black market is going to eat this up. All it takes is a little free money to screw things up royally for everyone.