Crypto Valley Association President Says Funds Need To Flow Back For Future Growth

Crypto Valley Association President Says Capital Needs To Be Brought Back

Organizations are not without their conflict and crypto organizations are no different. Such was the case earlier this year when the Crypto Valley Association saw a change of power.

On January 31, 2019, Daniel Haudenschild was announced as the new President by the General Assembly of the Association. His predecessor, Oliver Bussmann, had left the organization under interesting circumstances; he, along with some other members, had been accused of using the organization for personal business. Jenna Zenk, one of the members who had resigned shortly after, stated in a video posted to Twitter that the composition of the directors, lawyers, investors and advisers in the association was one-sided.

Now, Haudenschild has sat down with CoinTelegraph to speak about his new appointment, among other issues.

Addressing The Issues

During the interview, Haudenschild was asked what the thought about the resignation of previous members as well as his predecessor not seeking re-election. According to him, the CVA had grown very quickly without any time in between. As a result, several structures had not been put in place and when the previous management could not keep up under criticism, the organization was forced to start over with a clean slate.

In light of this, he says, the organization is starting over by addressing the organizations toolset and implementing a proper association management system. This will mean the empowering of regional chapters, the restructuring of scholarships and so on. Until these processes are completed, no new board members will be elected, he revealed. When new elections are made, they will be from the startup community.

The organization had faced previous hostility from the management staff and the developer community of the platform. Haudenschild says that this was due to smaller members feeling as though they could not compete with the larger firms and the larger firms feeling that they were not fully enjoying the benefits of membership. To combat this, the organization as removed strategic corporate sponsorships and reduced membership to only two tiers.

Now that he has taken office, plan to hire new staff as he claims the organization is understaffed. He also wants to bring in more funding to the valley now that the ICO hype has died down.

“We need to bring the capital back into the valley. The persistent bear market in BTC prices has driven away a lot of the nonsense that came with the ICO hype. However, the VC and Angel funds have also partially left. This is unfortunate, as we have some brilliant young teams and founders here. It is an absolute buyer’s market,” he says.

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Tokoni Uti
Tokoni Uti
Tokoni Uti is a Lagos-based writer with several years of experience. Her work has appeared in the Huffington Post, the Los Angeles Free Press and the San Diego Free press among others. She is a graduate of Bowen University.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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