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Mark Karpeles, the former CEO of the former largest Bitcoin exchange in the world, Mt Gox, has affirmed that now he has decided to “start from zero with a new company and a project that will be based on the blockchain technology. Karpeles will be the new Chief Technology Officer (CTO) of the company, which is registered as Tristan Technologies Co.

He just recently escaped from the case in which he was accused of being involved with the fall of Mt Gox, so he seems ready to start fresh now. Now, as reported by The Mainichi, Karpeles was in Japan when he affirmed that this new startup will have a very ambitious goal: to create a new secure operating system using the blockchain technology.

The idea is really very bold. This new blockchain-based system would be more secure and faster than the OSs we already use.

During the announcement, he said that he acknowledges that his reputation in the country may be somewhat tarnished, so he hopes to create some work which will be very important for Japan to take back its place as a tech leader, something which has been lost to the United States in the last two decades with companies like Apple, Facebook, and Amazon.

He said that Japan used to be one of the major countries before when it came to computers. However, the days have changed and today the U. S. dominates cloud technology, for instance, as well as the internet as a whole. He did affirm that he believed in Japan’s potential, though, so he was ready to fight in order to improve the country.

Karpeles also affirmed that the blockchain could change the world by creating cashless payments and cloud solutions, as well as smart contracts, which could improve our lives significantly.

During the announcement, he also talked about cryptos. He deems them as “highly risky” and said that he does not hold any crypto and also that he’s not really rich today, despite having an early career in crypto.

Karpeles Is Surrounded By Controversies

Despite the announcement and all the positivity surrounding it, Karpeles is far from a very beloved figure in the crypto space.

He is often associated with incompetence during his time as the CEO of Mt Gox, the crypto exchange which was hacked in the first half of the decade and had to shut down after 850,000 BTC were stolen from the company. At the time, Bitcoin was not really so valuable, so the 850,000 BTC was worth “only” $450 million USD.

Also, he was only recently cleared of charges of embezzlement and breach of trust because of the company. He was found guilty of manipulating the data from the exchange, though, for which he should be in prison for two and a half years, a sentence that was recently suspended for four years. He is going to appeal the conviction, though, but he’s going to jail if he doesn’t win.

Back in March, he affirmed that he was innocent of all charges and that he will prove it in court. So far, he has not been able of doing it.

Would You Trust Karpeles?

The main question now is: should we trust this man? The blockchain technology is only as trustworthy as the communities building it. If you create several backdoors or have malicious intent, the technology will not be safe at all. So, should we put our trust in a man that is convicted of fooling investors by adultering data?

Many Mt Gox victims are still struggling to get their money back, so it is hard to simply put our trust in this man again, which was described by The Mainichi as a genius who has come


The views and opinions expressed in the article Defunct Mt Gox CEO Karpeles Launches Tristan Technologies to Create a Blockchain-Based OS do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research.

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