Global Head Leaves Deloitte to Join Blockchain Start-Up

Eric Piscini, former global blockchain leader and partner of one of the “Big Four” accounting firms, has resigned from Deloitte to join blockchain start-up Citizens Reserve, who aim to move supply chain networks onto the technology.

Since 2012, Piscini has helped to build a $50 million global blockchain practice for Deloitte, growing the firm’s team from three to 1,200 people today.

deloitte to join blockchain start-up
Eric Piscini – Former Global Blockchain Head Deloitte

Piscini is not the first to strike out on his own, there has been a number of top executives leaving traditional technology or financial companies for blockchain technology and crypto-based projects.

Last year, David Marcus left PayPal to join the popular crypto exchange Coinbase, CFO of Australia’s Commonwealth Bank left to join Block.one, and J.P. Morgan’s head of blockchain recently left to start-up a blockchain venture Clovyr.

Piscini’s start-up Citizens Reserve is at the early-stage, but has an impressive team that are currently raising $300 million.  Piscini said:

“We are building the Ethereum of supply chain.” adding “There is a bridge that we created that is kind of our secret sauce.”

Citizens Reserve has built a shared database to operate on all levels of a supply chain.  The platform is based on the public Ethereum blockchain, with smart contracts that integrate private blockchain solutions.  Piscini explained:

“The private blockchain is more for supply chain transactions, and the public blockchain is used for payments.”

To support the project, a new digital currency ZERV has been developed using the ERC20 token, which will be used by consortium members to access the blockchain to perform near real time transactions.

Traditionally, agreements require a long period of time to close, with cross-border transactions, foreign exchange rate considerations and fragmented supply chain networks.  Picini said that using the ZERV token, allows:

“nearly instant borderless transactions.”

What makes the ZERV token significantly different, and sets it apart from other ERC20 tokens, is that as well as being a utility, it is also backed up by reserve assets that give the token “a guaranteed value” of $0.01.

Citizens Reserve plans to have 100 billion tokens issued to the value of $1 billion.  It has been reported that 85 percent of the funds raised in the token pre-sale will be used to purchase assets to back the token.

head leaves deloitte to join blockchain zerv

Citizens Reserve has not disclosed any names of potential consortium members, only to say that it is working with three organisations that are currently providing software to the defense industry supply chain.

Piscini has helped founders James Bower and Adam McKenzie to build an impressive team, since he was brought on board earlier this year, the company says it expects to launch in July 2018.


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