COSTANTINI - BANCA INTESA VERAMENTE VUOI BUTTARE VIA 2,5 MILIONI DI EURO PER IL FALLIMENTARE R3 - PROGETTO CORDA! ATTENTO DOVRAI RISPONDERE DI QUESTE CRITICHE CHE STANNO PIOVENDO IN RETE
R3 Loses Momentum, as JP Morgan Joins the Leave Camp
- Evidence has emerged that J.P. Morgan, Macquarie Group, and U.S. Bancorp join the R3 Leave camp, following similar news concerning Goldman Sachs, Santander, Morgan Stanley, and National Australia Bank. The R3 consortium loses momentum, as these seven players belong to the core founder team of 42 banks.
- Originally aimed at $200m, the current fundraising effort for the Distributed Ledger Group (DLG) lead by R3 has already cut its target to $150m, forced by the fact that other 21 banks have expressed limited support, commiting only to the minimum ticket of $1m.
- The total economic investment of the founder banks reach $56.5m so far, way below the target. In the Remain camp there are 12 banks with a commitment of $2.5m each, plus State Street at $2m and ING peaking at $3.5m investment.
- With increasing concerns about the sustainability of the R3 strategy, most of the current objections focus on poor first year results: no clear business case have been selected among a pletora of ephemeral proof of concepts; moreover, skepticism about the Corda technological platform hold steady as R3 has refused to make it available to third party peer reviewing and auditing early in the process, commiting to open source it only at the end of this month, when the fund raising operation will be already sealed.
- Insiders suggest more banks might drop out of the R3 blockchain initiative in the next week, leaving in the consortium only those few innovation teams that have shared the press release spotlight in the recent months and the minor banks with no alternative blockchain strategy.
- R3 will have to tap into its larger group of members, beyond the original founders, trying to boost and save the Series A fundraising target for the DLG consortium.
- R3 Fundraing Orderbook - Indication of Interest from DLG members as of 11/21/16 (Subject to Internal Approvals)
- ING 3.5
- Bank of America 2.5
- Barclays 2.5
- BBVA 2.5
- Credit Suisse 2.5
- HSBC 2.5
- Intesa Sanpaolo 2.5
- Natixis 2.5
- Skandinaviska Enskilda Banken 2.5
- Société Générale 2.5
- UBS 2.5
- Wells Fargo 2.5
- Westpac Banking Corporation 2.5
- State Street 2
- Bank of Montreal (BMO Financial Group) 1
- Bank of Nova Scotia (Scotiabank) 1
- Bank of Tokyo-Mitsubishi UFJ (Mitsubishi UFJ Financial Group) 1
- BNP Paribas 1
- BNY Mellon 1
- Canadian Imperial Bank of Commerce 1
- Citigroup 1
- Commerzbank 1
- Commonwealth Bank of Australia 1
- Danske Bank 1
- Deutsche Bank 1
- Mizuho Bank 1
- Nomura 1
- Nordea 1
- Northern Trust 1
- OP Financial Group 1
- Royal Bank of Canada 1
- Royal Bank of Scotland 1
- Sumitomo Mitsui Banking Corporation 1
- Toronto-Dominion Bank 1
- UniCredit 1
- Opted-out: Banco Santander, Goldman Sachs, J.P. Morgan, Macquarie Group, Morgan Stanley, National Australia Bank, and U.S. Bancorp
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