Jesse Edwards, the co-founder of R3 Blockchain Enterprises Has left the Firm

By Prashant Jha

Jesse Edwards who co-founded the R3 Blockchain enterprises along with David Rutter and ex-Standard Chartered executive Todd McDonald, has left the company.

Edward with his partners co-founded R3 back in 2014 to lead the way in the blockchain enterprise market which was not that popular back then. R3 helped businesses around the world to implement blockchain into their system and has quite a reputation of market leaders in the game.

Edward did not mention any particular reason for this departure but ensured that he is leaving on good terms. Here is what he said about leaving the R3 enterprises,

“It’s true that my work here is done and it is time to move on. This has been one of the best experiences of my professional career, and I am incredibly privileged to have worked alongside such a talented and passionate team in building this business. R3 has broken away as the market leader and standout partner of choice for professionals looking to apply this technology to their industries. I couldn’t be prouder.”

The Probable Cause For Edward’s Departure

The statement given to the press by Edward is pretty standard, but many believe that the real reason behind his departure is due to the strategic difference over how to spur investment in startups that build on top of Corda, R3’s blockchain fabric and base for running open-source applications.

A source close to the firm said that Edward wanted to work with a side fund of around $50 to $60 million similar in kind to the various funds for Dfinity and Tezos, but certainly, the members on the board were not up for Edward’s plan.

The R3 group released a statement over the departure of its co-founder which read,

‘Edwards had long wanted to set up his own independent investment shop, one dedicated to driving Corda adoption globally, it made sense for him to explore his own path, which we fully support. Jesse remains an investor in and a close friend of the firm, and we look forward to working with him closely in the future.”

It is not a secret that R3 is gearing up for Corda adoption, and this might have been a vital reason for the difference of opinions between the board members and the co-founder Jesse Edwards.

Prashant Jha

As a content writer Prashant believes in presenting complex topics in simple laymen terms. He is a tech enthusiast and an avid reader.

Related Posts