Kraken's new CTO Vishnu Patankar leads innovation, AI capabilities may be applied to cryptocurrencies

The U.S. compliant exchange Kraken announced that Vishnu Patankar, who has over 20 years of practical technical experience in well-known companies such as Microsoft, Amazon, Intel, and Groupon, will join Kraken as its Chief Technology Officer. Patankar is excited about developments in Web3, AI, and quantum computing, and he aims to collaborate with the team to make Kraken a leading industry player that meets the needs of global users.

Patankar has over 20 years of experience in the technical field

The CEO of Kraken, David Ripley, stated that Patankar is a true leader in this field, possessing the capabilities needed to build and optimize technology and provide secure and scalable product experiences. He is thrilled to have Patankar join the Kraken team. Prior to joining Kraken, he served as the Chief Technology Officer at StockX, contributing to the company's growth and NFT products.

Interest in Web3 and AI application areas

Regarding Web3, Patankar expressed his interest in the inclusivity of decentralized technologies, mentioning applications such as tokenizing assets in areas like real estate, collectibles, art, vehicle ownership, identity, healthcare, and AI training data.

Patankar mentioned the large tech company Facebook Meta. He believes that Meta's shift towards the metaverse and Web3 is not surprising, but the current macro environment may limit certain job applications and turn to AI applications using the large language model LLaMA. He also noted that major cloud service providers are increasing computational power to aid in AI training, which could also be applied to cryptocurrency.

Future development of Kraken

Looking ahead to 2023, Patankar expressed his anticipation for the development of AI large language models and mentioned that the continued presence of business models will be an interesting observation. He also discussed the role of AI and cryptography in the development of cryptocurrency, as well as the potential of AI in customer experience, cybersecurity, and fraud prevention. Furthermore, both AI and cryptocurrency explore vast amounts of data through extensive computational power, and he is excited about the interaction of quantum computing with big data analysis.

As for his five-year plan at Kraken, Patankar stated that the company's mission is to expand and establish products for mainstream markets and to extend the platform into the most promising areas of Web3. He hopes to collaborate with the team to drive technology and innovation, making Kraken a leader in the industry, continuing to provide excellent products and services to meet the growing demands of global users.