ConsenSys Cuts 13% of Its Workforce to Prepare for 2.0

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December 11, 2018. The New York-based blockchain software company ConsenSys will enter another phase that it calls ConsenSys 2.0. In this new phase, it will let go 13% of its staff.

ConsenSys will undergo a new phase that according to its leaders will make it more efficient, accountable, and will have more attention to revenue. Because of this move, 13% of its staff will get laid off and according to reports, the company has already started laying off people as of December 7, 2018.

“Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members.” – ConsenSys

The incoming ConsenSys 2.0 is set to be built around five “pillars” namely: continuously develop ethereum’s core infrastructure, use the company’s venture studio to fund dApps, selling of blockchain solutions, have advisory services, and education of both developers and the public.

“In ConsenSys 1.0, we built a laboratory instrumented to prove the moon existed, using complex engineering and math and creative philosophical arguments,Ā Now we need a streamlined rocket ship to get us there, since the actual proof, ultimately, is in the landing.” – Joseph Lubin, Founder, Consensys

Cryptocurrency’s long winter and bear market may also have an effect on its move to downsize. But its founder still believes that cryptocurrency will still have an exponential growth in the future.

This article originally appeared on BitPinas: ConsenSys Cuts 13% of Its Workforce to Prepare for 2.0

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