Amber Baldet who served as the head of JPMorgan’s blockchain operations, says that banks using cryptocurrency might be coming very soon, but the legal and regulatory framework surrounding the matter will be their biggest hurdle.
Baldet was one of JPMorgan’s most influential members with setting up the bank’s Quorum Project, which is an enterprise-focused version of Ethereum.
In a May 18th 2018 CNBC Interview Baldet went over her current work with her new startup, Clovyr, that was announced at the recent Consensus Blockchain 2018 conference that was held in New York.
Clovyr offers decentralized applications, many of which are developer focused.
The conversation quickly turned to distinguish the difference between blockchain and cryptocurrency and Baldet was asked when banks would start using cryptocurrency on a much larger scale than they are now. Baldet said that she felt it’s coming much sooner than people think but, “even where the will is, the legal and regulatory framework is challenging.” (see video below)
In regards to Baldet’s old employer, JPMorgan just started a new cryptocurrency strategy position that will go to an Oliver Harris of London. Harris was running the bank’s In-Residence Fintech program. His new job will be focusing on a cryptocurrency strategy for the bank and lead the Quorum project, of which Amber Baldet was a big part.