New Executive Position
From the Emerging Technologies Blog
by Kevin Coleman
UPDATED MAY 2020 - This blog will appear monthly from now on. Today, all organizations depend on technological innovation in order to sustain their existence. Analysis of emerging technologies and identification of those technologies with the greatest potential is essential to being prepared for upcoming projects. The objective of this blog is to establish future oriented technology analysis and insights. This blog was established to provide program and project managers with information about these emerging technologies. These emerging technologies have far reaching repercussions for program and project managers. This blog will jump-start the learning process and allow program and project managers to become proactive.
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Earlier this month a new concept within the cryptocurrency environment was floated by me and my mind has been captured by this intriguing concept ever since. The underpinning of the new concept was research, analysis and reporting on the global business and economic implications cryptocurrencies will likely have in the next few years. In response to the assessed impact, I was asked what I thought of the concept of a new corporate executive officer position – the Chief Cryptocurrency Officer (CCO), Chief Crypto Officer for short. I went online to a few executive job listing and searched for this title. None of those sites had a CCO position listed. I expanded my search to more general job boards. The results were the same.
Giving this concept some thought, I began listing what I thought the key responsibilities of someone in this role would be, as well as what would qualify someone for this role. Factoring in the realistic projections that were collected, a position such as this is not that far off. Also considered was incorporating these responsibilities under the existing Chief Financial Officer (CFO) role. While that must certainly be considered before creating and filling a Chief Crypto Officer position within any organization, the role cryptocurrencies will have within that organization would have to be assessed. If cryptocurrencies were projected to play a moderate to large role in an organization, the magnitude of work required for that executive role could easily overwhelm a CFO when added to their existing responsibilities.
Today I know of or could find only a few individuals with the CCO title. At this point it looks likely the number of people in that role will increase in the next few years. Perhaps colleges and universities will create new degree programs with a cryptocurrency concentration. For now, perhaps an MBA program with a cryptocurrency emphasis would be advisable and a justified addition.
Posted on: July 26, 2018 02:10 PM |
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Comments (17)
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Tamer Zeyad Sadiq
Assistant Cost Manager| Turner & Townsend
Riyadh, Ar Riyad, Saudi Arabia
Good share about these definition
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
I asked the organization I did this for if I could share the skill capability bullets and I am waiting to hear back! If the answer is no, my back-up plan is to document the educational requirements for such a position. Please stay tuned.
Georgia Harris
GLH Project Manager| Independent Consultant
Pa, United States
Don't we have too many chiefs as it is?
Joshua Render
Product Owner| Cognizant
Harrisville, Ny, United States
I would rank myself as a bit of a skeptic on the whole cryptocurrency thing. My thinking is there is more value in the blockchain outside of currency. Maybe a Chief Blockchain Officer, or duties placed under the current CTO or CIO would be warranted.
I did read recently that Ethereum has been able to up the number of simultaneous transactions. It helps get rid of one of my complaints on cryptocurrency, but further makes me interested in blockchain outside of currency uses.
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
@ Joshua I was much more skeptical until the number of governments began exploring or announcing their OWN cryptocurrency. I think longer term the cryptocurrency domain will not look anything like what we see today.
I have to agree with Joshua. I think it might end up falling under the realm of the CTO or CIO.
Rami Kaibni
Community Champion
Senior Projects Manager | Field & Marten Associates
New Westminster, British Columbia, Canada
Interesting - I still don't get what the CCO role will differ from that of the CFO ?
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
I have to shy away from the CTO role. With the interaction now necessary with the Security and Exchange Commission (SEC), the Internal Revenue Service (IRS), Treasury Department, Commodity Futures Trading Commission, Financial Conduct Authority in the UK, South Korea's Financial Services Commission, China's Central Bank, Monetary Authority of Singapore, International Monetary Fund, (IMF), Financial Stability Board, Financial Services Agency in Japan and many others, this is clearly a financial instrument.
I do think the CTO should have Blockchain non cryptocurrency applications initiatives fall under them.
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
@ Rami In the specific case I looked at it was more a new financial product/service offering or ability. Add to that the more I looked into this, the more complexity I found due to the frequency of change and new entrants into the cryptocurrency market as well as the contradictory regulatory environment plus the issues created by criminals using cryptos.
Brian Martin
Chief Project Executive| CONFIDENTIAL
Ca, United States
I would NEVER put any product or service line under the CTO or CFO. For starters, neither one are use to having to commit and deliver on revenue numbers!
RAJESH K L
Project Manager, PMP| Bharat Electronics, Bengaluru, India
Bengaluru, Karnataka, India
Rami Kaibni
Community Champion
Senior Projects Manager | Field & Marten Associates
New Westminster, British Columbia, Canada
@Kev, than ks for the clarification.
Drew Craig
Sr. Agile & Product Coach| Vanguard
Philadelphia, Pa, United States
Interesting perspective. To start, maybe a vertical under the CIO.
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
@ Andrew Once again my concern is the P&L product responsibilities (that this specific position has without question) really do not fall under any CIO.
Vincent Guerard
Coach - Trainer - Speaker - Advisor| Freelance
Mont-Royal, Quebec, Canada
Not sure about one more C-level, should be in the CFO team that is clear
Farouq Zaabab
Researcher, Coach, Trainer, Consultant| Freelancer
Sohar, Oman
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