R3 Facing Internal Problems About Corda Pitting Engineers And Management Against Each Other

Internal sources in blockchain giant R3 indicate that there is a brewing wrangle between the engineers and the senior management regarding the future of its flagship product, Corda.

Sources aware of the ongoing in R3 reportedly say that the rift between the engineers and the management is in relation to the product’s design as well as development. According to the source the engineers have allegedly lost faith in the technology itself, and are considering to be poorly functioning saying that it has no scalability.

The Blockcrypto reports that engineers are pointing to the reportedly 5-figure monthly bills that R3 is paying for cloud services, questioning the platform’s long-term viability.

Other sources who spoke on condition of anonymity have said that there is tension among the workforce, pointing a finger at R3 engineers of setting a poor company culture that seeks to drag the entire company with them.

The source also spoke about the uncertainty surrounding the identity of R3 the split coming in whether to market itself as a financial software company or as a tech consortium.

In the case of Corda, the engineers say there is no ambition regarding the project as well as clarity on the type of blockchain it should be. The engineers are not aware whether or not its will remain committed to distributed ledger technology (DLT).

The tiff has become so intense, the sources alleged, with division of what is now known as Corda maximalists while the other group is open to pursuing interoperability.

Within the R3 engineers, the close sources have indicated that the consortium is trying to pitch a software that was not well thought of and is underdeveloped, alleging that R3 is facing difficulties to manage its widening clientele. Cointelegraph reports that the product is like an engine with no car- very powerful but not very useful.

Some sources said that the company would have faced financial strains had it not reached a settlement with its rival Ripple over a legal tussle involving the breach of an option agreement that would have enabled R3 to buy XRP at a lower price.

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Joseph Kibe
Joseph Kibe
Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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