Monica Singer
Monica Singer, Ex Strate CEO and now "Blockchain Ambassador". for ConsenSys (Photo Credit: Strate)

New York-based ethereum development startup ConsenSys has tapped former CEO of South Africa’s central securities depository (StrateCSD), Monica Singer, as “Blockchain Ambassador”.

In a statement published by CoinDesk, ConsenSys said Singer will focus on financial markets.

Singer confirmed her appointed on Twitter:

“Ethereum is much more than just a system for tracking currency, which could make it the killer application of the original disruptor itself – Bitcoin,” says Singer.

“Smart contracts could be the building blocks for entire dispersed independent organisations engaging in economic transactions—buying and selling things, hiring labour, negotiating deals, balancing budgets and maximising profits – without any human or institutional intervention. If one takes the view that corporations are just a complex web of contracts and obligations of varying scope and stature, then such commitments could be coded into Ethereum. It opens the door for all sorts of new and interesting possibilities such as emancipated machines that own themselves and people being employed directly by pieces of software.

“Similar to the way Bitcoin disrupted the money system by harnessing Blockchain technology, Ethereum may do the same for applications of all shapes and sizes” Singer adds.

Singer left Strate at the end of August 2017 to fulfil her dream of living in Cape Town and to pursue new opportunities.

“I have always had a passion for innovation and technology that drives societal change. With the potential disruption that the financial markets may face, particularly with disruptive technologies like blockchain, I will continue to research to stay ahead of developments which may lead me to consulting on these topics,” Singer said two months ago.

As the Vice President of the Africa & Middle East Depositories Association (AMEDA) together with her role in the World Forum of CSDs (WFC), Americas’ Central Securities Depositories Association (ACSDA) and her contribution in the last 18 years to the International Securities Services Association (ISSA), Singer will be able to leverage on her expertise and vast network to share ideas at an international level.

Singer is also a nominee for Markets Media’s Women in Finance award that will be announced in November.

She is now part of ConsenSys, which is a venture production studio building decentralized applications and various developer and end-user tools for blockchain ecosystems, primarily focused on Ethereum.

Ethereum crystal symbol on mobile app screen with big BUY button. Ethereum growth concept. New digital money.
Ethereum crystal symbol on mobile app screen with big BUY button. Ethereum growth concept. New digital money. (Photo Credit: www.shutterstock.com)

The company was founded by Joseph Lubin and is based in Brooklyn, and has hired over 50 developers to build applications on the Ethereum system, including one that enables music distribution and another that allows for a new kind of financial auditing.

Lubin told the New York Times last year that he had thrown himself into Ethereum after starting to think that it delivered on some of the failed promise of Bitcoin, especially when it came to allowing new kinds of online contracts and markets.

In September, ConsenSys announced a $50 million (R670 million) venture fund for startups working with blockchain technology.

Named ConsenSys Ventures, the new fund is being led by investment specialist Kavita Gupta.