Jesse Lund, the head of IBM blockchain arm, has quit the tech giant. Lund came in to the limelight after helping in the creation of IBM World Wire in collaboration with the Stellar Network. Earlier, he had predicted the price of Bitcoin will hit the $1 million “in our lifetime”.
His forecast is based on the fact that the market leader coin continues to be scarce and the current bull-run has created the right environment for increased adoption. With more users flocking exchanges, his prediction appears to hold a lot of water.
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Lund Positive about Blockchain Based Payments
After the partnership between IBM and Stellar, Lund is very optimistic that the future of cross border payments is vested on the blockchain technology. The partnership that bore the IBM World Wire is gaining traction with some high profile banks. He goes on to add:
“Yes, I’ve left IBM, but I am still optimistic about payments innovation using blockchain.”
IBM is keen on developing a cross-border payment system among other companies with the same interest. The goal is to come up with payment solutions for financial institutions. Lund is not new to the finance sector, he has worked with the R3, a group of banks including Wells Fargo.
No Explanation for Lund Quitting IBM
The mysterious move has left many baffled, and nor Lund or IBM have not given any reasons for the move. Earlier this month, Lund commented on the article about the impending partnership between JPMorgan Chase and Microsoft by saying:
“Great to see more major players piling on this use case as we approach the tipping point of transforming global financial services. What’s next is an extended solution to bring open fungibility of liquidity and FX across major banking institutions… I wonder if any other big players are working toward that!”
A quick look at his LinkedIn profile, Lund has not changed his position at IBM. Many had expected that he has moved to a new and shiny crypto project or company. However, time will tell given the growing number of positions in the industry.
Lund Move to Greener Pastures Possible
It is not clear whether Lund has moved to “other greener pastures”, but his co-worker, Jerry Cuomo remains as the IBM blockchain division. He is famed for is “someone is typing” invention which has become increasingly popular in IM apps.
“Jerry holds the prestigious title of IBM Fellow, which is the highest technical position at IBM, pioneering emerging technology projects in the areas of Blockchain, API Economy, Mobile computing, Cloud computing, Web Application Servers, Integration Software, Java, Instant Messaging Software, filling over 65 US patents across these areas. Jerry’s most visible patent is the first use of the “Someone is typing…” indicator found in instant messaging applications. This invention is used by billions of users around the world every day, via their iPhones, MSFT’s Messenger, and IBM’s Sametime.”
Jess Lund Passion for Bitcoin and Blockchain Payments
After helping in the development of the IBM World Wire at the giant tech, his passion for blockchain payments appear to be strong. He is not alone in predicting the BTC future; it is a sentiment that has been supported crypto industry goers despite the ambitious prediction. He quoted as saying;
“I have a long-term outlook. […] It goes back to that discussion about the utility of the network with a higher price. I see Bitcoin at a million dollars someday. I like that number because if Bitcoin’s at a million dollars, then the satoshi is on value parity with the US penny. And that means there’s over $20 trillion of liquidity in this network. Think about $20 trillion in liquidity and how that changes things like corporate payments.”