JP Morgan’s head on blockchain operations, Amber Baldet, announces its intention to leave the company. Baldet has been the leader in developing the institution’s blockchain project the Quorum. She mentions that she is going to start her own venture this year.
Amber Baldet stamped JP Morgan as one of the pioneers in using blockchain in the market. She pushed the development despite having a conundrum with the community.
Despite having a negative view of the digital coin community, the financial institution has been vocal on using the blockchain for their future.
JP Morgan received mix criticism from the community after Jamie Dimon’s expressed his feelings for Bitcoin. The institution receives backlashes from the crypto community, and his statement even pulled the Bitcoin’s price at that time.
He mentions that the coin is fraud and no one should invest in it. Earlier this year, Dimon, in an interview, changed his stance on Bitcoin. He mentioned that he regretted calling it a fraud last year and he is “softening” his current stance on the digital currency.
Dimon managed to change his statement due to the massive price movements the coin have in the past months.
The skyrocketing prices also made the whole world head turn, launching from the $4,000 price mark it had and peaking at over $19,000 to $20,000.
Going back to Baldet, she leads the company’s Quorum production and maintenance. The blockchain project was based on a popular cryptocurrency, Ethereum, She was handling the development of the project along with the head of the blockchain initiative, Umar Farooq.
JP Morgan’s Amber Baldet’s Resignation
Amber Baldet made quite a splash last year after being featured in Fortune’s 40 under 40. Topping the list was Mark Zuckerberg of Facebook. Baldet has been recognized for bringing a whole new technology to JP Morgan and pushing the blockchain technology on older institutions.
The financial institution has also announced a replacement for Baldet’s position. Senior product manager Christine Moy is looking to handle Baldet’s work after she effectively leaves the company.
A spokeswoman for a company said that “Amber is extremely talented and helped build the outstanding team we have today. We respect her desire to start her own venture and we wish her nothing but the best.”
Baldet made JP Morgan one of the top banks to utilize the blockchain through Quorum. The Quorum is utilized to build business applications for the institution. The company was also reportedly looking to give the project a spinoff this year.
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