JPMorgan Chase has give-up the ghost the latest high-profile fellow member to leave of absence the R3CEV Blockchain Consortium.
As Reuters reports, quoting an R3 spokesman, the giant left the grouping to “pursue a rattling distinct technology scientific discipline path” of its ain inward the Blockchain sector.
"It follows the previous exits from Goldman Sachs, Santander in addition to Morgan Stanley inward 2016, alongside R3 afterwards lowering its ain expectations, aiming to heighten $150 mln from members for a threescore per centum stake instead of $200 mln in addition to a ninety per centum stake."
The consortium has faced farther hurdles throughout 2017 after it appeared to order a cold shoulder to Blockchain technology scientific discipline altogether.
In a Jan presentation close its flagship Corda platform, R3 said it “didn’t need” a Blockchain after all.
“JPMorgan parted ways alongside R3 to pursue a rattling distinct technology scientific discipline path which is at odds alongside the 1 chosen yesteryear the global fiscal services industry, represented yesteryear our 80-plus members," Managing Director Charley Cooper’s comment to Reuters reads.
One competing Blockchain alliance meanwhile continues to comparatively outperform the struggling R3.
JPMorgan is an master copy fellow member of the Enterprise Ethereum Alliance, an increasingly high-profile grouping of businesses aiming to examine the implementation of Ethereum-based technology scientific discipline on a global scale.
Ethereum’s cost shot up some the EEA’s launch in addition to has even in addition to hence to come upwardly downward from the optimism gained from the participation of names such equally Microsoft in addition to Intel.
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