ConsenSys Update: New Strategic Focus Is Losing Head Counts

Parth Vig
Parth Vig is a Management student, and a keen observer of Cryptocurrency and blockchain technology, his interest in writing brings him to thecoinrepublic.com, He believes that he has many ideas that he pens down and he feels it would be a great asset for any kind of creative writing.
  • Ethereum based ConsenSys is primarily shifting its focus and activities on new strategy implementation.
  • ConsenSys’s new enterprise-focused solutions are said to now directly support the software business.
  • ConsenSys shared that it has laid off near to 13% of its workforce in the new ConsenSys 2.0.

Ethereum based ConsenSys is primarily shifting its focus and activities on new strategy implementation, which is directly resulting in the loss of headcounts or the number of the individual at the firm by 14%.

The new shift in strategy is losing itself as the results are downs sizing. To look into this issue, the company arranged a meeting on Tuesday and discussed the results and causes. However, there was no official number of how many individuals were affected.

In further awaited months, ConsenSys is said to finalize the transition from its venture production model and bring out a number of its internally funded projects into the ConsenSys Investments portfolio, which the company said alongside the meeting.

This new strategic implementation is said to prioritize the developments of some of the Ethereum’s ecosystem’s leading infrastructure platforms. It also shared that on Tuesday, it will start to operate a software business composed of several of its products optimized for modular stacks, which include Infura, Pegasys, MetaMask, Codefi, and much more.

The ConsenSys said that it would primarily focus on the four core products and made sensible when the two business strategies are separated. ConsenSys will be guided in its venture under the investment banners with a focus on early-stage equity and liquid digital assets and also the requirement of strategic opportunities wherever necessary.

ConsenSys’s new enterprise-focused solutions are said to now directly support the software business. ConsenSys shared that it has laid off near to 13% of its workforce in the new ConsenSys 2.0.

The latest update conducted on Tuesday is said to be a final evaluation in the company’s projects accumulated in the previous years together. The support on Ethereum crypto to the new changes done by ConsenSys might be both positive and negative, and the results can once verify over a successful week of action.

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