IBM blockchain head Jesse Lund exits tech firm

The crypto community reacts to what seems like the sudden departure of IBM’s global head of blockchain for financial services and digital currencies.

It can now be confirmed that IBM’s blockchain go-to guy, Jesse Lund, is officially out of the tech company.

This was verified through an email sent to CoinDesk from IBM which essentially said that Lund is no longer employed by IBM.

The email does not bare further details regarding Lund’s departure. “IBM’s practice is not to discuss the specifics of employee departures,” it stated.

Lund himself also confirmed the news when he responded to a CoinDesk query via LinkedIn saying that he has left IBM but remains “optimistic about payments innovation using blockchain.”

Lund was known to be a strong advocate for blockchain technology and cryptocurrencies. He led IBM’s blockchain arm in launching the Stellar-powered World Wire payment network which currently is located in more than 70 countries servicing close to 50 currencies.

In his stint with the tech company, he was able to convince six commercial banks from different countries to use the World Wire platform in their intent to launch their respective stablecoins in the future. Philippines’ Rizal Commercial Banking Corporation (RCBC) is one of the said six.

Formerly a senior vice president of US bank, Wells Fargo, Lund believed that in due time, cryptocurrencies would have practical applications in the physical enterprise world. He is famously known for saying that the Bitcoin will one day hit US$1 million. He made this prediction in a YouTube interview with news platform,

Prior to this announcement, there seemed to be no sign that Lund’s exit was imminent. With both parties remaining tight-lipped on the details, the exact reason for his departure will most probably remain a mystery.

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