Security News Ripples out of Ripple. Ripple has played a significant role in the development of Market- Capitalization – XRP. The most recent news ‘rippling’ out of the company is the Head of Information Security. Sujay Jaladi has decided to leave the company. However, upon his exit, Jaladi said, “Ripple is a great company with a bright future.”
There is no replacement for Sujay as of yet, with Ripple’s Director of Corporate Communications as per the report. It stated: “We have a strong security team led with[the SVP of engineering] Christopher Kanaan”
Interestingly, Sujay is working on a startup called “Harbor”. It will provide a compliance platform for users who have securities as tokens on the blockchain. Harbor has secured an additional $28 million in funding from major venture capital firms in California as of April this year, making the grand total, including seed investments, to over $40M to date.
Also, Future Perfect Ventures, 1confirmation, Abstract Holdings, and Signia Venture Partners. Existing Harbor investors: Craft Ventures, Vy Capital and Valor Equity Partners were also included, with individual investors in the round being Nicolas Berggruen of Berggruen Holdings, Napoleon Ta of Founders Fund, and Kyle Samani and Tushar Jain of Multicoin Capital.
Ethereum has a popular ERC-20 Token framework where the existing blockchain ecosystem supports it:
Harbor’s R (regulated) Token Standard, however, is compatible with it. It can tokenize real estate, limited partnerships, fine art, and other assets of investors’ interests.
When Sujay was asked about his contribution to Harbor, he said: “I am really excited about this opportunity with Harbor and think I can have a big impact on the company’s success and help accelerate many of its key initiatives.”
He further explained his role and responsibilities at Harbor saying: “ I am responsible for the overall security strategy and program. This includes establishing processes and procedures across the company and the platform to ensure the protection of customer data.”
When asked about any similarity of his roles and responsibilities at Harbor and Ripple, Sujay responded: “in the sense that the responsibility is to build a comprehensive security program that protects the company and its customers from threats, as well as to ensure compliance with all appropriate regulations and Harbor is in a highly regulated space, which makes the role even more critical.”
Harbor is very confident about Sujay’s role in the company. Also, his abilities to deliver the level of performance required in a newly established enterprise. The Co-Founder and CTO of Harbor, Bob Remeika said that he believes: “Sujay has the perfect blend of fintech and blockchain experience to accelerate our efforts to build a trusted platform for issuers. Also, investors, and regulators.”
Well, we wish Sujay and Harbor the very best for their endeavors. Also, for continued success in their collaboration to keep compliance and security measures at a level. Where investors remain confident in their decision to utilize Blockchain Technology.