Sunday, December 20, 2015

Banksters Going Crazy Over Blythe Masters' Blockchain

Bye bye bitcoin, the new face of the blockchain.

Blythe Master is CEO of Digital Asset Holdings. DAH is a blockchain technology company that provides settlement and ledger services for financial assets. It is doing so via a blockchain program different from the one that supports Bitcoin.

 Masters was previously with JPMorgan Chase.

As I reported yesterday, banksters are all over the blockchain technology but are doing Bitcoin blockchain workarounds.

Specifically, IBM is hooked up with DAH and DAH is apparently close to closing another round of financing.

Reports NyPo:
The 46-year-old finance whiz, once the most powerful woman on Wall Street, is in high-stakes negotiations with investors for a $35 million financing round at the technology startup she now heads that will value the company at $100 million,..

While the deal is still being negotiated and could fall apart, JPM is expected to lead the investment round with $7.5 million, according to four sources.

Spanish bank Santander, where Masters is a non-executive chairman, is expected to invest about $3 million. Other potential investors include Markit, Bank of America, Goldman Sachs, Morgan Stanley, Citigroup and Nasdaq.
NyPo provides some background on Masters:
Masters was forced from [JPMorgan] in May 2014 after 27 years — having started as an intern — after a government regulator fined JPM $410 million for allegedly rigging the California energy markets...

 -RW 

3 comments:

  1. This is a hype bubble joke. Akin to pets.com. Lots of splash, will raise lots of dumb VC money, then will achieve absolutely nothing.

    The only advantage of a wildly inefficient blockchain-style ledger over a highly-efficient client/server ledger is ability to operate peer-to-peer amidst malicious entities in a trustless environment with no authority.

    Yet Masters's business will only be operating in a tightly regulated sandbox where all parties and transactions must be vetted, secured, and approved by a central government authority. A blockchain-run ledger is completely pointless in this context.

    It's fun to see banksters waste their time and money though. Their hubris leads them to think they are rich and feared because they are smart and productively capable. They should understand the true source of their wealth and just stick to their day jobs of systematically stealing from people using government privilege.

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    1. So this woman gets fired from JP Morgan over a $410 million regulatory fine and then gets the people who fired her to invest in her latest pet project? No cronyism their I guess. It must be nice to be so connected that you simply can't lose no matter what hits the fan.

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