Blockchain Adds Former Merrill Lynch, Facebook Execs as Advisors

Bitcoin startup Blockchain has added a former banking chairman and a former Facebook executive to its team of advisors.

The announcements were issued on Blockchain's blog over the past two days, with former chairman for Merrill Lynch Europe, Middle East and Africa Bob Wigley, revealing his role in a post today.

The news followed a separate post in which Salil Pitroda, who previously worked for Facebook as a corporate development executive, disclosed he has been working with Blockchain as an advisor for the past year.

In a separate article published in The Financial Times, Wigley detailed that he also made an investment in Blockchain for an undisclosed amount.

Wigley wrote in his announcement that he had been approached by other bitcoin startups seeking venture funding, and that his interest in the technology increased as he continued to learn more.

He wrote:

"Bitcoin strikes me as one of those developments you see infrequently that won’t just change one particular aspect of the way an existing service or product is delivered but has the potential to totally revolutionise world payments."

Pitroda pointed out how bitcoin can have an impact on both consumers and merchants that interact with it.

"For consumers, bitcoin will offer a more efficient, accountable and lower cost way to transfer funds and pay in many use cases," he wrote. "For businesses, the blockchain will allow sharing of information for its participants, trust between unknown parties and greater security and risk management for transactional flows."

Founded in 2011, Blockchain offers a bitcoin wallet service and blockchain explorer product. The company has raised $30.5m in one round of venture funding.

Meeting image via Shutterstock