What’s Going On?
Two former senior JP Morgan executives have announced their next move, a blockchain app company called Clovyr.
Why Does It Matter?
Amber Baldet and cryptographer Patrick Mylund Nielsen both left high-profile jobs with JP Morgan earlier this year. On Monday they announced the launch of Clovyr, which aims to introduce a layer of enterprise-driven services between blockchains and public applications, reported CoinDesk.
Will Clovyr Get Lucky?
It has quite the launch team – Baldet, who has been 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 JP Morgan’s Blockchain Centre of Excellence, reported CNBC. Clovyr co-founder Nielsen previously led development for JP Morgan’s open source blockchain projects and is also former lead developer of Quorum, a JP Morgan-built blockchain for business.
Clovyr is in the process of fundraising for its product, now under development, reported Fortune. The company’s offering is believed to be similar to an app store for decentralised apps and services. Baldet and Nielsen say they envision the platform serving as “a neutral ground,” offering a browser-like dashboard, through which Clovyr can provide support and other services, although these are yet to be described in detail.