ConsenSys appoints Kreak as CEO... Sets standards for institutional real-world use

ConsenSys has named Mike Kriak as CEO of its newly created entity, with Kriak telling CoinGape that institutional adoption should be judged by whether institutions are actually running live markets and settling payments across networks, rather than by announcements or pilots. ConsenSys said on September 9 that it will split into two independent operating companies, separating its consumer business—including MetaMask—from its protocol and institutional blockchain infrastructure arm. The remarks are Kriak's own stated benchmark, not a formal company target or contractual metric. The appointment and split matter as a test of whether ConsenSys can convert its wallet and infrastructure footprint into institutional revenue. What to watch next is how the two entities are capitalized and staffed, and whether Kriak's operational criteria show up in disclosed metrics.