Taproot Wizards Hires Former Amazon Cryptographer To Build Bitcoin’s NFT Potential

Taproot Witches, a Vancouver-based blockchain firm that’s designing software to facilitate the construction of NFTs on the Ethereum network, has recruited former Amazon security expert Mike Rickard as its CTO.

Rickard will be teaming up with Taproot’s co-founder and CEO Dror Medalion to build the technology that enables users to generate new forms of digital assets on Ethereum.

NFTs are a sort of digital asset that may be placed into the digital ledger blockchain and then utilised for representing anything from films, music, or other creative works. The process behind them is based on a concept called non-fungible coins (NFTs), which was invented by tech entrepreneur Jutta Steiner in 2017 to solve one of the Ethereum biggest problems: how to handle assets with particular features like scarcity or value without having them duplicate each other.

The notion was so promising that it earned the 2018 a company called Cons Innovation Award. But although Steiner’s original work on NFTs has been generally lauded, consumers have grappled with how best to utilise them and how to maintain their ownership.