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Bitcoin Whiz Leaves Wells Fargo for IBM
It’s the latest blow for Wells Fargo, whose reputation remains tarnished by last year’s fake-accounts scandal. The bank announced that Jesse Lund, who leads the bank’s SF-based “Innovation Lab” that deals with the bank’s “blockchain” push - is leaving on 1/31/17.
IBM has been one of the leading non-bank companies in developing blockchain, which banks would like to control by building their own versions. Banks like Barclays have massive innovation labs in New York to create their own system. Goldman Sachs and Bank of America also have been quietly patenting blockchain ideas.
According to an IBM spokeswoman, Lund will work with IBM Blockchain and Hyperledger executives, including IBM CTO Chris Ferris and Blythe Masters, the CEO of Digital Asset Holdings and a former top JPMorgan Chase executive.
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