A prominent banker is joining bitcoin a startup firm. Antony Jenkins, an ex-chief executive officer of Barclays bank PLC, said that he has joined Bloc
A prominent banker is joining bitcoin a startup firm. Antony Jenkins, an ex-chief executive officer of Barclays bank PLC, said that he has joined Blockchain board of directors. Blockchain is a London based startup that provides services related to bitcoin and crytocurrencies. The company is named behind the technology that creates shared network, which is used to move and track bitcoin. it raised about $30 million in an initial fundraising.
The startup has offered software that is used by other bitcoin firms such as Coinbase Inc., as well as website service and applications for consumers to sell and buy digital currency. The company is aos offering developing tools for using bitcoin’s technology for activities like tracking identity information or trading other assets.
On the board of the Blockchain Mr. Jenkins joins the co-founders of this firm Peter Smith the CEO and President Nick Cary, along with Jeremy Liew a partner capitalist from Lightspeed venture and one of the earliest Snap Inc. and also Michael Jackson the former operating chief executive officer of skype.
The move to add a former banker by Blockchain is notable since it is committed to bitcoin digital and bitcoin for their own sake as potential alternatives to the traditional services. Mr. Smith said that the firm has attracted a $ 50 billion worth of transactions this year, with a bout the third of the shaer coming from institutions. Other digital currency firms such as TradeBlock and Circle Internet Financial Ltd, which launched Axoni have shifted to applications that used digital currency in the background.
Mr. Jenkins has already indicated that banking will face an Uber moment. He started 10x future technologies, a financial firm that is working on ways for nonbank firms to offer digital financial services. He is the chairman of Currencies Direct Ltd., which is a company that competes with traditional players in foreign exchange. He added that there will be notable pressure piling up in the banking industry also. He said that there will be massive transformation, which is going to be unpredictable.