09 Feb 2025

light mode

Gavin Wood: I hate suits and ties

Gavin Wood: I hate suits and ties

A British programmer Gavin Wood rose to fame as a result of his contribution to the development of the Ethereum and Polkadot blockchains. Along with the fact that he was the first to participate in crypto charity to aid Ukraine in 2022.

On this page

Look at the photo of Gavin Wood to get an idea of what a blockchain developer who avoids project management positions looks like. He is a brilliant programmer, the inventor of the Solidity smart contract language, and a serial entrepreneur who also happens to be a terrible manager. The individual who entered the crypto space with the intention of building “one computer for the entire planet,” but who broke under the weight of crypto-maximalism and refused all managerial positions.

Gavin Wood. Source: Bloomberg

Gavin Wood. Source: Bloomberg

Gavin Wood is 42. He attended Royal Lancaster Grammar School before enrolling in the University of York, where he earned a Master of Engineering (MEng) degree in Computer Systems and Software Engineering. In addition, Gavin holds a Ph.D.

Wood isn't wed and doesn't have any kids. He keeps his personal life private. He never discusses his expenses or future plans.

However, there are some things that we are aware of:

● Hobbies: music and photography;

● Sports: black belt in Taekwondo;

● Scientific works: philosophy;

● Net worth: $450 million;

● Main sources of income: ETH and DOT;

● Charity: $5.8 million to Ukraine (March 2022).

Ethereum period

Wood began his career as a programmer and software security consultant at Microsoft. However, Gavin's meeting with Vitalik Buterin, who invited him to join a group aiming to “create something better than bitcoin,” marked the start of his journey into the world of cryptocurrencies.

He co-founded Ethereum along with Buterin, Hoskinson, Anthony Di Iorio, and Lubin.

Wood and the team saw Ethereum, which debuted in 2014, as a massive ecosystem with its own cryptocurrency. Users could create and modify digital products, including smart contracts. Wood described their goal at the time as “one computer for the entire planet.”

BTC supporters disliked this initiative. Gavin explained what has happened in an interview:

“When I started Ethereum in early 2014, there was a lot of bitcoin maximalism and there still is. It led to a very kind of toxic environment. At Ethereum, we were trying to push cryptocurrency blockchain technology forward. That was our key aim. We didn't have any ill will towards bitcoin. We were just technologists. At least, I speak for myself. I don't speak for anyone else necessarily. But we got a lot of hate from the bitcoin world, a lot of unneeded unreasonable skepticism and sometimes worse.”

It was almost like the crypto version of nationalism. It's like, “Well, I'm behind this team, and therefore I cannot be behind any other team. Any other team must be an enemy. And if you used to be part of our team, but now you're on this other team, you must be a traitor.” There's this kind of mentality.

Wood resigned from the company's founders due to this toxic environment and his disagreement with Buterin's choice to start a hard fork of the Ethereum network following the hack.

He informed employees that Ethereum has become yet another network competing for dominance in the oversaturated world of blockchains, and he does not wish to participate in this.

Gavin, nevertheless, continues to support and advise the Ethereum Classic developers. Even so, he occasionally claims that this project hasn't entirely avoided “crypto-nationalism.” He therefore set out to completely alter the blockchain's militant mentality, or at the very least to moderate it by allowing multiple chains.

Polkadot period

With math Ph.D. Jutta Steiner, Wood co-founded Parity Technologies, a software development company. Two years later, he co-founded the Web3 Foundation, which grants money to teams developing decentralized web technology. These two companies are behind the development of a new, one-of-a-kind parachain technology that connects various blockchains.

Gavin Wood put all his efforts to build a system that would serve as a bridge to other networks. A “patchwork of independent and isolated legal systems of the internet,” as he put it, was what he wanted to get rid of. A multichain Polkadot was launched in May 2020 by Wood and two other co-founders, Robert Habermeier and Peter Chaban. For Wood, this was a chance to start coding his own architecture from scratch and develop a brand-new, non-toxic version of Ethereum – a parachain that unites competing projects.

The project developed rapidly and attracted the attention of the crypto community. But Wood shocked everyone in October 2022 by announcing his resignation as CEO of Parity Technologies. This sparked a social media backlash, with the former CEO accused of making millions on DOT while abandoning people who trusted him during cryptocurrency's darkest days. Gavin, who is normally unflappable, reacted very emotionally to this by publishing a statement on the official website stating that, in general, he was not made for leadership positions and because of this he hates suits and ties. It is a pity for him to waste time on some rallies and discussions of potential partnerships. Coding is his line of work. Therefore, he remains the main architect of the parachain, and does not want to deal with financial and marketing issues and will not.

“The role of CEO has never been one which I have coveted (and this dates back long before Parity). I can act at being a CEO well enough for a short while, but it’s not where I’m going to find eternal happiness. A good CEO needs to be available to others on a far more continuous basis. They need to enjoy representing the company, both internally and externally. They need to not be bothered by large swathes of their time becoming eaten up in meetings and calls with a plethora of multicolored boxes on their calendar.”

Many regard Gavin Wood as an idealist because he has been closely associated with cryptocurrencies for 9 years, but he remains optimistic that a global system of social interaction “based on truth, not trust” can be created. He is confident that the Polkadot business model will be able to transform the blockchain industry, where projects compete with one another for the top spot rather than working together to advance the crypto economy.

We can only wish him luck from here on out.

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author

Latest News

MORE
Winklevoss Twins Consider IPO for Gemini Exchange

Winklevoss Twins Consider IPO for Gemini Exchange

The Winklevoss twins, Cameron and Tyler, are reportedly considering an initial public offering (IPO) for their cryptocurrency exchange, Gemini. If successful, this move would place Gemini among the growing list of crypto companies entering public markets.

09 Feb 2025
Trump Jr. States That Crypto Is America’s Path to Global Dominance

Trump Jr. States That Crypto Is America’s Path to Global Dominance

The crypto community has taken notice of Donald Trump Jr.’s latest remarks. Speaking at the Ondo Finance Summit in New York, he asserted that cryptocurrencies will play a crucial role in maintaining America’s global economic leadership.

07 Feb 2025
Rep. Green Criticizes TRUMP Coin at Congress Hearing

Rep. Green Criticizes TRUMP Coin at Congress Hearing

On February 6, the U.S. House Financial Services Committee held a hearing entitled “Operation Choke Point 2.0: The Biden Administration’s Effort to Put Crypto in the Crosshairs.”

07 Feb 2025
NFL Rivals Expands Web3 Gaming With Super Bowl NFT Cards

NFL Rivals Expands Web3 Gaming With Super Bowl NFT Cards

NFL Rivals, the blockchain-powered football game from Mythical Games, is rolling out a special in-game event to celebrate the biggest football showdown of the year.

07 Feb 2025

Latest News Alt

MORE
Weekly Analysis of BTC, ETH, and the Stock Market (Jan 27, 2025)

Weekly Analysis of BTC, ETH, and the Stock Market (Jan 27, 2025)

An overview of BTC, ETH, XAUT, and S&P500 charts, and the current cryptocurrency market dynamics.

27 Jan 2025
Weekly Analysis of BTC, ETH, and the Stock Market (Jan 13, 2025)

Weekly Analysis of BTC, ETH, and the Stock Market (Jan 13, 2025)

An overview of BTC, ETH, XAUT, and S&P500 charts, and the current cryptocurrency market dynamics.

13 Jan 2025
Weekly Analysis of BTC, ETH, and the Stock Market (Jan 6, 2025)

Weekly Analysis of BTC, ETH, and the Stock Market (Jan 6, 2025)

An overview of BTC, ETH, XAUT, and S&P500 charts, along with the current cryptocurrency market dynamics.

06 Jan 2025

Might Be Interesting

MORE
How Blockchain Helps Combat Disinformation

How Blockchain Helps Combat Disinformation

Fake news has become a global issue, shaping public opinion, fueling social tensions, and even influencing political decisions. With the rise of social media, the spread of misinformation has accelerated, making it increasingly difficult to regulate. However, blockchain technology offers a promising solution in the fight against fake news.

07 Feb 2025
Trading Psychology: How to Avoid Falling Victim to Your Own Biases

Trading Psychology: How to Avoid Falling Victim to Your Own Biases

The most successful traders aren’t always the smartest. More often, those who excel are the ones who understand psychological traps, manage their emotions, and maintain rationality under pressure.

03 Feb 2025
Liquidity Pools — The Engine Driving DeFi

Liquidity Pools — The Engine Driving DeFi

Liquidity pools fuel DeFi by enabling instant token swaps, but what exactly are they? These crowdsourced reserves make decentralized trading possible—but they also come with risks. Here’s what you need to know before diving in.

31 Jan 2025
Bitcoin Name Service — Making Web3 Addresses Easier to Read

Bitcoin Name Service — Making Web3 Addresses Easier to Read

As the Bitcoin blockchain evolves, new opportunities are emerging for users to interact with DEX technologies. One of the major advancements is the Bitcoin Name Service (BNS)—a protocol that replaces complex web3 addresses with names that are easy for humans to understand.

29 Jan 2025
How to Withdraw Bitcoin from PayPal: A Step-by-Step Guide

How to Withdraw Bitcoin from PayPal: A Step-by-Step Guide

PayPal is one of the most popular online payment platforms. In 2022, it introduced features that allow users to transact with cryptocurrencies, including Bitcoin (BTC). However, withdrawing crypto from PayPal is not as straightforward as transferring fiat funds. This guide will walk you through the process of withdrawing Bitcoin from PayPal.

29 Jan 2025
Crypto Wallet Backups: Are You Truly Ready for Self-Custody?

Crypto Wallet Backups: Are You Truly Ready for Self-Custody?

Being your own bank is one of the great perks of crypto. It’s perfect for those who want extra security or believe in decentralization. But self-custody isn’t exactly a walk in the park – you’ve got to master the art of backups because you’re the only one responsible for your assets.

28 Jan 2025

Opinions

Super Bowl Bets Under Fire: CFTC Probes Kalshi and Crypto.com

Super Bowl Bets Under Fire: CFTC Probes Kalshi and Crypto.com

The Super Bowl, the largest sporting event in the US, has more to it than just the competition. The exciting show and, of course, commercials and bets are a big part of it, too. The winner will become known as early as tomorrow. Not everything always goes smoothly, though.

08 Feb 2025
Arthur Hayes — Is Trump’s Crypto Policy Setting a Trap?

Arthur Hayes — Is Trump’s Crypto Policy Setting a Trap?

Arthur Hayes, in The Genie, argues that Trump’s crypto agenda might not be what it seems. Could regulatory changes lead to unexpected consequences? Read our full breakdown.

07 Feb 2025
MORE

Interviews

“Satoshi is CIA”: Swedish crypto bro opens up about his Bitcoin journey

“Satoshi is CIA”: Swedish crypto bro opens up about his Bitcoin journey

The first crypto craze took place almost a decade ago. Overnight, many people found out about Bitcoin and its underlying technology, blockchain.

31 Jan 2025
Dmytro Gordon and Volodymyr Nosov: A Sensational Interview

Dmytro Gordon and Volodymyr Nosov: A Sensational Interview

Volodymyr Nosov, CEO of Europe’s largest crypto exchange WhiteBIT, sat down with Dmytro Gordon, one of Ukraine’s most prominent journalists. The interview touched on Bitcoin, crypto, WhiteBIT, cars, keys to success, and business vision.

18 Dec 2024
MORE