David Schwartz

David Schwartz (also known as JoelKatz) is Chief Technology Officer (CTO) and Chief Cryptographer at as well as a board member and advisor at . David is one of the original architects of the Ledger. Before Ripple, he was a director of software development at Webmaster Incorporated, a Santa Clara software developer. [1]

He also assists companies with strategic planning in emerging technologies such as distributed payment systems and secure computing with his expertise in cryptography, computer security, and software development, particularly for startups and quickly-growing small companies. Schwartz developed encrypted cloud storage and enterprise messaging systems for organizations like CNN and the National Security Agency (NSA). [2]


David Schwartz studied Electrical Engineering at the University of Houston, Texas, U.S., and graduated in 1990. [1]


Early years

In 1988 before he graduated from the university, Schwartz founded David Schwartz Enterprise. He invented a hierarchical system for distributing workloads over multiple computers, handled interactions with the USPTO to obtain the United States patent, and managed marketing and licensing efforts. [1]

In 1991, Schwartz served as a software developer at Re/Max. There he conceived and developed a system to analyze public property records and identify houses that were the most likely to be over-assessed and entitled to property tax reductions. [1][2]

In 1992, Schwartz was a partner in Cardiophonics. He is a co-founder of a medical device manufacturing company that developed, manufactured, and sold a noninvasive medical device to provide objective measurements of the presence and severity of heart murmurs and related conditions. [6]

In 1996, Schwartz worked for Worldwide Internet Solutions as a senior network manager. He supervised the design, implementation, and deployment of a regional network and a large document scan, index, search, and retrieval system. [6]

WebMaster Incorporated

In January 1998, Schwartz joined Webmaster Inc. where he worked for 13 years. He started as a director of software development. In 2001, he was promoted to Chief Technical Officer (CTO) overseeing research, development, and technical operations. [6]


Schwartz joined in November 2011 as the Chief Cryptographer of the company. In July 2018, he was assigned as the Chief Technology Officer of Ripple. [5]

In April 2020, YouTube suspended Schwartz's YouTube channel soon after the firm launched a lawsuit against it over the XRP scam in videos. This suspension came a week after Ripple initiated a lawsuit against YouTube on allegations the platform had failed to prevent fake XRP giveaway scams on the platform. [4]

In December 2020, the SEC filed a legal action against Ripple Labs Inc. and two executives, accusing them of conducting an unregistered digital asset securities offering. The complaint stated that Ripple raised over $1.3 billion since 2013 by selling , a digital asset, to investors globally. Additionally, Ripple was alleged to have distributed billions of XRP in exchange for non-cash consideration, including labor and market-making services. [7]

In April 2021, David said on TV that "all the evidence" suggests and were similar despite allegations that XRP was being sold illegally as a security. Ripple was defending itself against a U.S. Securities and Exchange Commission (SEC) action alleging the company and two of its executives violated U.S. securities laws in selling XRP to retail consumers. [3]

On October 19, 2023, The U.S. Securities and Exchange Commission (SEC) dismissed its aiding and abetting claims against Ripple Labs executives  and  in its lawsuit alleging the  company violated U.S. securities law, according to a court filing in New York on October 19, 2023. Ripple Labs Chief Legal Officer wrote on X: [8]

"The SEC made a serious mistake going after Brad & Chris personally – and now, they’ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC."[8]



Computer System - Early work on hierarchical task distribution in a multimode computer cluster.[1]

  • Patent number: US US5025369A
  • Application filed: August 25, 1988
  • Application granted: June 18, 1991
  • Anticipated Expiration: August 25, 2008
  • Status: Expired - Fee-Related
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David Schwartz

Commit Info

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Edited On

March 10, 2024

Reason for edit:

added board seat at PolySign


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