JPMorgan’s (NYSE: JPM) head of Blockchain Center of Excellence and the key executive of the company's blockchain business Amber Baldet is leaving the company to start a business of her own.
It was revealed in an internal JPMorgan memo which said Baldet was leaving for an “entrepreneurial opportunity”. The memo was sent by Umar Farooq, head of channels, analytics and innovation for treasury services and head of blockchain initiatives for JPMorgan’s corporate and investment bank.
"Amber has been an integral part of developing our blockchain capabilities and helped build out the BCOE and the outstanding team that we have today. We thank her for her leadership and contributions to the CIB and the firm." the memo reads.
Baldet led product development for Quorum —a type of blockchain JPMorgan developed for enterprises to build business applications. Unlike Bitcoin (Bitcoin), Quorum is private, or “permissioned,” meaning that only authorized participants can join the network of machines that maintains it.
Baldet will be replaced by fellow Blockchain Center of Excellence official and senior product manager Christine Moy, who incidentally was hired by Baldet.
By Anton Lysenkov