Two Former JP Morgan Members Announce the Launch of New Project, Clovyr

The former head of blockchain at JPMorgan, Amber Baldet has recently announced the launch of her new project, Clovyr via Twitter. Joining her as her partner is Patrick Mylund, who is also a former developer at JPMorgan.

As for the JPMorgan team, Baldet’s decision to launch her own start-up was not of concern at all, as they appreciated her contributions to the company and are supporting her in the decision made.

JPMorgan has made a lasting impression in the US, as it is one of the oldest financial institutions to continue its services in full force. It is not only the largest in the US but is also considered the world’s sixth largest bank with “a total of $2.6 trillion in assets”.

It was not until two years ago that J.P Morgan made the decision to use blockchain technology in creating Quorum, an enterprise-based platform that addresses concerns associated with introducing blockchain to the financial industry. It was Baldet who helped JPMorgan with the entire strategy and setup at the start of the project.

The duo responsible for Clovyr decided on creating this startup as a decentralized app store that allows consumers and businesses to further explore blockchain technology-based services to better their experiences. In particular, Clovyr focuses on ‘working smart’ when it comes to the ways in which data are collected, stored and used. Baldet went on to say that Clovyr is a “way to help people think differently about dApp designs”.

To get the project lifted off, Clovyr will presently be compatible with two Ethereum software clients, mainly Parity and Geth, however, given there is more demand, the duo believes that multiple integrations are also possible.

Baldet also sees more value in creating their own private cloud, as it is supposedly much safer and meets their needs. In addition, the founders are taking the necessary measures to ensure that their project is compliant with a soon-to-be data protection law, the GDPR.

As for the public, Baldet has expressed that there will be no initial coin offering, however, she believes that this app can make a difference for companies who are interested in the entirety of blockchain technology and decentralized systems.

Be on the lookout for this “decentralized networks, growing together” project as it is one of the first bits of technology in this space to use a smart approach to bridge the gap between all the independent blockchain applications to start working together.

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