Former JPMorgan head of blockchain announces new start-up

Finance


Former head of J.P. Morgan’s blockchain arm Amber Baldet has finally announced her next move. The former bank executive started a new blockchain company called Clovyr.

“It’s a way to help people think differently about decentralized application design,” Baldet said Monday at the Consensus blockchain conference in New York.

Baldet’s post-J.P. Morgan plans have been the topic of speculation since she announced her departure from the bank in April. She hinted at Monday’s news during a presentation at Ethereal Summit, hosted by ethereum startup incubator ConsenSys, last week. Ethereum is a blockchain platform.

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.

“This really is an amazing community and we’re excited to do our part to help it grow,” Baldet said.

Baldet, who was listed on Fortune’s 40 Under 40 list of the most influential young people in business and CoinDesk’s 10 Most Influential in Blockchain, led JPMorgan’s Blockchain Center of Excellence and helped the bank set its strategy. She was replaced by Christine Moy, another senior product manager at the bank.

J.P. Morgan developed its blockchain technology called Quorum two years ago for clearing and settling derivatives and cross-border payments.



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