Former JP Morgan Blockchain Lead Hints at Startup

Amber Baldet, JP Morgan - Ibinex News

It looks like everyone’s waiting with bated breath for Amber Baldet’s big reveal.

Since quitting her role as blockchain lead at JP Morgan, Baldet has been rather tight-lipped on the new company she plans to launch. Her presentation at the Ethereal Summit last Friday , hosted by Consensys, may have hinted at what she wants to accomplish.

In her presentation, Baldet criticized the tribalism that typically occurs between builders of open blockchain networks and institutions, stressing the importance of hybrid technologies that can deploy verifiable, open-source code resistant to single points of failure but that can be adjusted should exceptions happen.

Hybrid blockchains have claimed the interest of many executives at major companies and Baldet’s interest comes after the two largest public protocols have been trapped in a bitter online feud.

Baldet has framed permissioned blockchains as perhaps offering a well-intentioned contrast to a model that’s seen no shortage of critiques over the years. Baldet said during the talk:

“You can change the rules of the game without fighting on Twitter for two years. So, choices matter.”

Baldet echoed the narrative of inclusion that the Ethereal Summit wanted to illustrate, while touching on the need for a better security models and poking fun at bitcoin’s strategy for its security model and its emphasis on inclusion through node ownership.

Baldet framed herself as an etrepeneur who wants to forge a path toward a “pragmatic internet of value. In other words, something that works,” she said.

And Baldet believes privacy is crucial for the future of blockchain technology.

“Fundamental strong encryption is a requirement for these systems,” Baldet said, emphasizing that such cryptography should be open source and intensely vetted.

While permissioned blockchains are often criticized for their management by central authorities, Baldet notes, public blockchains tend to put the onus on the individual, and as such, aren’t perfect solutions for users.

Though bitcoin is ideal as a peer-to-peer, censorship-resistant payment network, Baldet also thought that builders of other blockchains might need to seek alternative strategies concurrent with their visions.

Building a system that has properties of both public and private blockchains, she seemed to stress, could prove beneficial for all parties concerned.

Finally, Baldet also thinks that while interoperability is often cited as integral to blockchain adoption, Baldet said that forging connections between protocols could open up creating security vulnerabilities.

She believes that instead of chasing interoperability, blockchains should be used for simple attestations that something has occurred, with the cryptographic hashes giving a compressed, yet computationally-verifiable sequence of what happened.

Baldet finally concluded:

“We need to dumb down what it is on blockchain – fewer smart contracts and more dumb coordination.”

Related Cryptocurrency News

Leave a Comment