Story after story of top talent in Financial firms and Wall Street pivoting to start their own crypto and blockchain startups. The most recent is J.P. Morgan’s former head of blockchain, Amber Baldet, who has announced a new blockchain start-up called Clovyr.
Or there is this guy, who claims Bitcoin could reach as high as $50,000 by the end of 2018.
Regarding the advent of blockchain there’s a nice video here by Fortune. Amber, who most recently served as the bank’s blockchain program lead at JP Morgna Chase, is co-founding a new startup, Clovyr, that aims to help consumers, developers, and businesses explore the nascent, albeit burgeoning, world of blockchain-based, decentralized technologies.
Baldet hopes she can:
Help people think differently about decentralized application design.
- Baldet’s post-J.P. Morgan plans have been the topic of speculation since she announced her departure from the bank in April. This is part of a growing trend, the writing is on the wall for Wall Street firms that do not remain agile, and now is the right time to pivot to the blockchain and crypto that are still somewhat nascent and could eventually disrupt financial markets and how financial services work on very fundamental levels.
Amber won’t be the first or the last to leave the comfort of Wall Street, let’s remember where Jeff Bezos got his mathematical and strategic roots.
Baldet unveiled a Clovyr demo at the Consensus conference in Manhattan on Monday afternoon, May 14th, 2018. They are fundraising now as well.
Will Clovyr be the Apple Store for Decentralized Apps?
Baldet co-founded Clovyr with Patrick Nielsen, who led development for J.P. Morgan’s open source blockchain projects.The new company will offer something similar to an app store, but for “decentralized applications” which exist on a blockchain, points out CNBC.
Build it and they will come, we know that the blockchain is coming, even Amazon announced another major partner in its efforts on the cloud. We already knew this but Amazon’s cloud computing arm is now teaming up with startup Kaleido to help simplify blockchain technology for its clients.
Clovyr feels very much like a B2B platform dApp ecosystem in the making:
Clovyr is a decentralized application store that will host a selection of well-vetted applications alongside some in-house developer tooling designed to simplify application development for enterprises.
Seriously though, who would not want to invest in something like this?
Anticipating the future is not very hard if you are a blockchain enthusiast. She is joined by Nielsen (above), former lead developer of Quorum, a JPMorgan Chase-built blockchain for business, who will serve as the concern’s chief technologist. If JP Morgan Chase is not even able to retain it’s top blockchain people, something is seriously wrong with their R&D model.
Or hang on a second, is this a spin-off play by JP Morgan itself? The report goes on to say: maintaining a “blockchain agnostic” approach to application design, Clovyr will initially provide tooling to build on both public and enterprise versions of ethereum, specifically the Quorum. These Wall Street firms know that they have to appear independent with their innovation startups to gain trust of Millennials. Someone that calls Bitcoin idiotic is probably not on the inside track of trust to the crypto hoard.
What Clovyr reminds me of is essentially a “Shopify of Crypto”, as the cofounders envision the platform serving as a neutral ground, offering a browser-like dashboard for the blockchain-curious, through which Clovyr can provide support and other services to customers according to their needs.
Does the concept make any sense to you?