THELOGICALINDIAN - Things are activity from bad to worse for the R3 bunch Ever back it became bright the accumulation is not absorption on blockchain technology there has been a lot of backfire JPMorgan Chase Co has now absitively to leave the accumulation and focus on added things It appears R3s fundraising action is the capital acumen for this departure
While there are still affluence of banks acknowledging R3, the accumulation is accident some analytical support. JPMorgan & Chase is not too happy with the abstraction of adopting US$150m from members. This money is bare to added advance the development of R3 products. However, a lot of banking institutions abutting because they appetite to get complex in blockchain technology. The bunch is not absorption its absorption on this technology by any means, which causes some friction.
Another Big Blow For The R3 Consortium
JPMorgan & Chase beggared means to accompany a “distinct technology path”. This accurate adventure is at allowance with how the R3 group is administration things appropriate now. This seems to announce the above coffer wants to accompany blockchain technology on their own accord. However, the bank’s staffers accept not commented on the bearings appropriately far, which leaves a lot of allowance for speculation. One affair is certain, the coffer cut all ties with the consortium.
It is not the aboriginal time a above coffer exits the R3 group, though. Goldman Sachs, Santander, Morgan Stanley, and National Australian Coffer additionally exited the non-blockchain aggressive accumulation a while ago. At first, these departures acutely revolved about the fundraising action as well.
However, it still charcoal to be apparent whether or not that is the accomplished story. Banks are agog on alive with the blockchain afterwards all. R3 aims to accession money for articles not application this technology, appropriately departures are to be expected. All of the banks abrogation the accumulation abide to accompany blockchain ventures on their own accord, though.
For the time being, it charcoal cryptic what will appear with the R3 group. Their initiatives are not accepting any cogent absorption so far. Despite over 80 banks still authoritative up the consortium, it may alone be a amount of time until added above banks leave the group. Blockchain technology charcoal of abundant absorption to banking institutions. Anyone not alive on this technology will be larboard abaft eventually or later.
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