July 31, 2020
Today I'm resigning from from my position as the Zcash Foundation's Executive Director.
This was a difficult (and bittersweet) decision for me to make. I deeply believe in the Foundation's mission, and consider private financial infrastructure for the public good a fundamental right, one that I was humbled to work toward. I loved the work. I am not being hyperbolic when I say it was the best team I've ever had the honor of working with, and I will miss them terribly. But it was the right time for me to go.
Under my stewardship I've done my best to build the Foundation into a transparent organization, and there's no reason I should change course with my farewell. I'm leaving for a number of reasons:
In open systems, those who help architect processes which grant their organizations power should refuse to wield it. As the Foundation's influence and power has grown, it's critical to set a precedent that those who helped build that influence are not singular beneficiaries. Whatever power that has vested to the Foundation should stay in check institutionally, and not accrue to a single leader.
I helped grow the Foundation from scratch over the last three years; I should not seek to lead it indefinitely. Zcash — and other cryptocurrency projects — should place their faith in their projects' institutions, rather than falling under the spell of charismatic individuals.
I am no longer the right person to lead the Foundation. This happens frequently in new organizations and businesses; a founding leader in the beginning of an organization's life may not have the right skills as it grows. Truthfully I don't know if I've reached this point, but I'm concerned enough that I believe the Foundation should find new leadership.
The Foundation's efforts to distribute power in the ecosystem, while successful, have taken a personal toll. Our landmark trademark negotiation and the successful conclusion of the dev fund debate were huge wins for the Zcash ecosystem, but they were gained at the cost of my relationship with ECC leadership and damaged my ability to collaborate with them effectively. Simply put, mutual trust was irreparably lost. Since I view it as unlikely that the ECC's top leadership would ever change (or that the structure of power would meaningfully change at any successor organization), I instead chose to leave. New leadership within the Foundation offers the opportunity to reset that relationship.
Finally, I know it's a bit trite, but I'm ready for a break and a change of pace. No that doesn't mean I have another job lined up; this isn't me queuing up my resignation and then having "some personal news" a week later. The Foundation cares deeply about life-work balance, but I haven't really lived that ideal for some time. Consequently, I plan on stepping back from contributing to the Zcash community, and promise not to use my prior position to influence or undermine the will of the Zcash community, either publicly or privately.
Since I'm by nature a verbose interlocutor, I hope you'll humor me and read these final words of advice for the Zcash (and broader cryptocurrency) community.
Beware relentless, unexamined positivism and near-religious zealotry. Such behavior, encouraged and stoked by those who wish to believe such things because they're easier (or more cynically, because it might entrench their own power), can overwhelm pragmatism and self-examination, and drown out valid feedback.
The Zcash community is fortunate to have impressive critics — folks like James Prestwich, Justin Ehrenhofer, and Sarang Noether — and the more the project welcomes serious critique, the stronger it will become. Ignoring, misinterpreting, manipulating, or dismissing valid criticism to maintain an aura of dogmatic idealism does a disservice to critics and the project itself. Do not fall into this trap, and call those out that do.
Remember that Zcash — and other efforts at private, digital money — are open protocols, not startups. Do not cargo-cult startup-ism into the core of your protocol, and resist attempts by others to do so. A protocol for private, digital money should serve the public good, not the needs of a select few business interests.
Question where influence truly lies and who wields it. If checks and balances exist, are they meaningful or purely theatrical? Consider what is and isn't being said publicly, the relationships that may exist without public knowledge, and never be afraid to question the power brokers of the Zcash ecosystem and hold them to task. One cannot simply claim "we're transparent," or "I respect your privacy"; they have to earn both through habitual action. I believe that by relinquishing my station of power, I'm sending a signal that these things matter to the Foundation; but they should matter throughout the ecosystem.
In spite of these warnings, the prospects for private digital cash are bright. The Foundation's technical efforts will make a big splash this year, and while I am wont to make cryptocurrency predictions, I will make one: I expect Zebra will be the dominant node on the Zcash network by the end of 2021. :) And I'm truly grateful for the pioneering work done by the ECC's engineers and the original Zerocash researchers that made all this possible.
To the extent that the Foundation was successful, its success is owed to my phenomenal colleagues. To the extent that the Foundation made mistakes, its mistakes were my own to bear, and I hope history will judge them (and me) not too harshly. Unlike my ancestor Lucius Quinctius Cincinnatus, I have no (yield?) farm to retire to, nor is any crisis I diffused while wearing my mantle of responsibility commensurate to his own trials. But I did my best to serve the Foundation concomitant to his virtues, and I'm deeply grateful to the board and community for the opportunity to do so.
So long, and thanks for all the z2z,
Josh Cincinnati
Amazing that you don't follow your own advice about ignoring critics. I have published various articles and papers about Zcash which are completely ignored: https://eprint.iacr.org/2020/627
https://attackingzcash.com/shielded-coinbase/