Bitcoin startup Casa is charging into 2020 with a new look – by winding down its hardware product and shuffling its front office.
CEO Jeremy Welch is stepping down from the role with current head of product Nick Neuman taking the helm. CTO Jameson Lopp will remain in his current position but will join the board along with Neuman.
Welch’s decision to step away from his position was linked to personal matters and not the firm’s product decisions, Welch and Neuman said.
Neuman told CoinDesk in an interview the firm will ditch its purple-and-white hardware product in favor of bolstering its subscription service. Welch told CoinDesk in October the company had shipped more than 2,000 devices to buyers in over 65 countries.
Casa Node will now be run on open-source software available on most any computer which can be paired with a $10 monthly subscription to its key service. As Neuman said, it’s equivalent to bitcoin key management for the cost of a Netflix subscription.
When asked about possible revenue concerns – given that the lowest Casa Node package currently runs for just under $400 – Neuman said the firm is looking to capitalize on a strong 2019. For Casa, that means learning from its customers.
“A lot of people weren't coming to us for the cost. They were coming to us for the security, the peace of mind,” Neuman said. “We don’t expect this to materially affect our revenue as a company.”
As for other Casa Node features, Neuman said the firm is close to integrating with Coldcard, a bitcoin-only wallet. Generational bitcoin payment plans via inheritance services and different service accounts similar to a checking and savings account are also in the lineup, he said.
“Our main focus is around the success that we’ve seen so far and the growth that we expect to continue to see through this year,” Neuman said.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.