Over the past three years, I’ve taken an interest in the growth of blockchain technologies and the cryptocurrency ecosystem. As some of you know who have attended our share-outs and technical discussions, Haystack originated one of the first proprietary specs (and, later, a data dictionary) for storing search behavior on ERC20 networks. I’ve personally invested in blockchain-related technologies and encouraged Haystack to explore opportunities to work closely with leading firms in this space (this led, for instance, to our conversations with Hyperledger and others).

Now, I’ve been presented an opportunity to lead a company focused on building enterprise-grade, trading-desk-ready technologies for professional traders interacting with digital asset markets. This is an exciting opportunity for me personally and unites my interests in economics, finance, high technology, market design, auction design, and other areas. In addition, I believe this team is uniquely suited to develop best-in-class technologies that allow traders the right mix of opportunity discovery, deep research, and timely situational awareness.

As much of Haystack’s work from here involves incremental improvement, cross-platform licensing, and partnership negotiations around our core technologies, I believe CK is best-positioned to lead the next chapter of Haystack’s growth, which she will do with the benefit of the Core Team’s advice. I will remain on Haystack’s Board of Directors and will continue to maintain a significant equity position in the firm. KDV will rotate off our Board of Directors and will be replaced by a Director to be appointed at our next board meeting in the autumn.

While these may seem like many changes at once, I am more optimistic than ever about Haystack and about the market space it occupies. People are hit every day with an avalanche of news, social, music, video, sports, and other digital stimuli and giving key platforms the best technologies available so they can be responsible and responsive custodians of information is an important role that Haystack will continue to inhabit and our reach – from podcasts to music to movies to text to adult content – will continue to broaden as new categories of content need to be sorted, searched, and delivered.

The future is bright for this set of technologies and I’m proud of this work and this team.

Karl T. Muth
Director, Haystack WS