Antony Jenkins was ousted last year from the helm of Barclays, but he has burnished his credentials by joining Blockchain, a digital currency company.
Antony Jenkins was ousted last year from the helm of Barclays, but he has burnished his credentials by joining Blockchain, a digital currency company. He was appointed to the bitcoin company a move that was highly welcomed by Blockchain chief executive officer, Peter Smith, who co-founded it in York. Peter Smith said that the former Barclays boss will help it to achieve its aim of revolutionising the financial system.
The fledging company whose name is derived from the Blockchain technology and from which its software is based, hopes that the ex-Barclays chief executive officer will help them to encourage the mass adoption of its payment services. Blockchains are some methods of keeping records of transaction processes, which are thought to be tamper free. It uses the technology of the fastest growing digital currency bitcoin and Mr. Peter Smith company now provides almost ten million bitcoin wallets and they are behind 150, 000 transactions each day.
Mr. Jenkins previously spent seventeen years at Wall Street giant Citigroup with Blockchain having an ardent support of fintech. During the time he was at Barclays he helped the company to launch Pingit, a mobile payments app. After he was fired from the firm back in July 2015 after three years in the top paying job, the fifty five years old opened 10x future technologies, a firm that sold cloud computing based systems to banks. The company partnered with Virgin money to come up with a digital platform for challenger bank.
Mr. Jenkins said that Blockchain have the ability to reinvent the way we use money and contribute to any finance system that’s low cost, high quality, secure, fair and transparent. It became as the Barclays rival according to Lloyds banking group. The government trimmed the taxpayer’s stake from less than 7pc, from under 8pc in the lender last month.
The government owns 6.93pc currently at Lloyds, down from the 43pc original investment. The state has removed 17.5bn of the 20.3bn that it pumped into the bank during the financial crisis. Shares in Lloyds are fed on stock market using a trading plan. The government hopes to have sold all of its stocks by April of 2018.
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