Fortune: R3 blockchain consortium is running out of money; director …

Fortune: R3 blockchain consortium is running out of money; the director of R3 denies these rumors

In the past year consortium R3 stated intent to attract 200 million dollars, however, recently there was information about Tom, what is this figure was based on now already unfulfilled plan to sell a stake in a research subsidiary of the consortium. Several former R3 employees who wished to remain anonymous told Fortune that the consortium’s internal financial targets were “10 times less” than intended and “ridiculously meager.”.

R3 Managing Director Charlie Cooper told Fortune that his company does not lack means and at the end of the calendar year will publish report about his financial situation.

“Now we have more than adequate funding, and on at this stage we do not plan attract additional funds “, – said is he.

By words anonymous employee R3, one of the problems with which consortium collided, there was a shortage of developers for blockchain Corda: “Although R3 can says that 1300 programmers are working on Corda, in public releases of R3 you can see not more 3 people. Above the public version Ethereum 10 thousand developers work “.

Fortune: R3 blockchain consortium is running out of money; director ...

R3 founders include JP Morgan and Goldman Sachs banks, but Goldman Sachs and Bank Santander left the consortium in 2016. Anonymous source of Goldman Sachs told Fortune his bank went out due to Togo, that the consortium suddenly became very large.

Turning R3 towards corporate blockchain means that it now competes with organizations like the Enterprise Ethereum Alliance, which includes JP Morgan and Microsoft, as well as Hyperledger.

Last year R3 filed lawsuit against Ripple, accusing him in violation of an agreement under which the consortium could buy 5 billion tokens XRP $ 0.0085 each. Ripple stated, which has no obligation this agreement, since R3 did not follow its provisions.

Fortune: R3 blockchain consortium is running out of money; director ...