In a bid to foster more clarity the distinction between the altcoin and the parent company, the creators of Zcash (ZEC), a privacy-centric altcoin, have changed its name to the Electric Coin Company, according to a blog post on February 22, 2019.
Zcash Gets a New Name
As stated in its blog post, the Zcash Company has officially changed its name to the Electric Coin Company, for clarity.
Explaining the reason behind the sudden change of name, the firm noted that its legal name has always been the Zerocoin Electric Coin Company, LLC, but it has been calling itself the “Zcash Company” ever since.
However, it has decided to make it known to the world that the company is not Zcash since Zcash is the cryptocurrency it builds and supports with the help of other members of its development community.
Zcash Foundation Is a Separate and Independent Entity
In the same vein, the Electric Coin Company has also stated that it is entirely different from the Zcash Foundation and added that the latter is a wholly independent nonprofit, with its own mission, team, as well as a board of directors.
“So here we are: Electric Coin Company. It could take us a little while to get the new branding right, create a new domain and change the [Zcash] sign at our office, but the name change is public, so we wanted to make sure we were on record confirming it,” stated the firm.
Despite the name change, the Electric Coin Company has made it clear that it’s still very much dedicated to achieving its mission of empowering the masses with economic freedom and opportunities through Zcash (ZEC).
The Electric Coin Company has also said that with its team of 30 people picked from different parts of the globe, its primary objective is to see to the continuous success of the Zcash blockchain project by building software, conducting cryptographic research, and collaborating with third parties to perform regular security audits of Zcash.
Going forward, the company has said that it will use its real name, the Electric Coin Company, to carry out all messaging and correspondence activities, establish the Electric Coin Company brand and move all information concerning its brand from Zcash to a new domain with its website.
Accordingly, the firm plans to implement the change on all its social media channels including Twitter, LinkedIn, and Facebook.