Eyal Hertzog, Bancor’s Chief Architect and Head of Product Development, is a serial entrepreneur. The Bancor protocol enables built-in price discovery and a liquidity mechanism for tokens on smart contract blockchains. These “smart tokens” hold one or more other tokens in reserve and enable any party to instantly purchase or liquidate the smart token in exchange for any of its reserve tokens, directly through the smart token’s contract, at a continuously calculated price, according to a formula which balances buy and sell volumes.
Previously he was co-founder of Metacafe, a place where artists create, consumers interact and technology enables communication. Prior to co-founding Metacafe, Mr. Hertzog co-founded Contact Networks in 1998, one of the first interpersonal, professional online networks. At Contact Networks, he was responsible for overall product strategy and overall technical architecture, and managed strategic relationships with Nokia, GemPlus, Comverse and other large partners. He has also advised US and Israeli high-tech startups on strategy, product roadmaps and technology architecture, and worked with Israeli venture capital firm Millennium Capital Venture as an investment advisor.