JPM blockchain creator says the project was going nowhere, JPMorgan wanted rid of it
Cointelegraph
Published Aug 26, 2020 03:21PM ET
Updated Aug 26, 2020 05:20PM ET
Will Martino, the former lead engineer for JPMorgan (NYSE:JPM)'s first blockchain Juno, shared insights into the project's acquisition by ConsenSys with Cointelegraph. He believes that while the technology was good for its time, it inherited fundamental flaws from Ethereum (ETH). Since leaving JPMorgan, he has gone on to found Kadena, a proof-of-work blockchain that employs sharding to achieve scalability.
While details regarding ConsenSys' recent acquisition of Quorum are sparse, it was noted that while divesting Quorum, JPMorgan was making an investment in ConsenSys. Martino believes that the investment that the bank made was higher than the price tag of Quorum. He suggests that this might have been an easy way for JPMorgan to get rid of a business unit that was not going anywhere:
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Written By: Cointelegraph
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