Kraken’s New CTO Vishnu Patankar Promotes AI Power

Key Points:

• Cryptocurrency exchange Kraken announced it had appointed Vishnu Patankar as Chief Technology Officer (CTO).
• He will manage the engineering team and collaborate with corporate executives to produce the next generation of products and services.
• Patankar thinks it will be hard to ignore the growing impact of AI.

Vishnu Patankar has been named Chief Technical Officer (CTO) of the cryptocurrency exchange Kraken.

Patankar has over twenty years of technological experience and has worked with Fortune 500 businesses such as Microsoft, Amazon, Intel, and Groupon to create products that attract millions of customers globally.

At Kraken, he will manage the engineering team and collaborate with the company’s leadership to produce the next generation of products and services. He will concentrate on growing the firm into the most promising sectors of cryptocurrency while retaining its security-focused and client-obsessed culture.

CEO of Kraken David Ripley said:

“He’s a strategic and technical leader who is well equipped to build and optimize Kraken’s technology to deliver the most secure and scalable product experiences. We’re thrilled to have him join our team.”

Patankar, a technical expert with great commercial acumen, contributed to the creation of early scalable decentralized technologies by pushing the development of goods and infrastructure to serve millions of customers worldwide. Before joining Kraken, he was CTO at StockX, where he was instrumental in the company’s expansion and the introduction of its NFT solution.

Kraken’s new CTO believes it will be difficult to ignore the rising importance of artificial intelligence and huge language models, and he is looking for areas where it may be used throughout the crypto company.

“It’s hard to ignore the power of AI large language models. Although, it will be interesting to see what business models sustain through the initial hype cycle and journey to product-market fit, revenue and ebitda.

AI and cryptography are both probabilistic, albeit in different ways.”

Patankar went on to say that “symbiotic domains” between crypto and AI include generative AI and customization applied to NFTs, fraud prevention, and cybersecurity.

“Beyond these, both AI and crypto explore large amounts of data through massive computational power. There are areas in computer science and physics that could lead to further breakthroughs over the next couple of decades. One area I’m excited by is quantum computing and its interplay with factorization of large numbers.”

Kraken reaped the advantages of remaining in Canada when competitors like Binance and OKX announced plans to leave. Kraken’s customer deposits in the nation increased by 25% in the weeks after Binance’s announcement in early May, and it observed a fivefold spike in downloads of its two mobile applications for Canadian customers within a week of OKX’s announcement in March.

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Harold

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