Several multi-billion dollar banks including Goldman Sachs, Santander and Morgan Stanley have officially left the R3 blockchain consortium, an organization established by R3CEV to focus on the development of industry standard blockchain-based systems.
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R3 CEV Shake Up Sees Member Banks Leave Consortium
A few days after Goldman Sachs’ bailout was announced, internal sources close to R3CEV revealed in a leak sent to Epiphyte CEO Edan Yago that JP Morgan, Macquarie Group, US Bancorp and National Australia have also opted out in the upcoming fundraising initiative of R3, solidifying their stance on R3 blockchain development.
As the founding members of the consortium, these 7 banks have made significant contributions in the development of R3 and its existing blockchain-based systems like Corda. In spite of the absence of Goldman Sachs and other major