• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

3

Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

3

Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
TechBlockchain

Ex-JPMorgan Chase Blockchain Duo Unveil New Startup

Robert Hackett
By
Robert Hackett
Robert Hackett
Down Arrow Button Icon
Robert Hackett
By
Robert Hackett
Robert Hackett
Down Arrow Button Icon
May 14, 2018, 4:45 PM ET

A few weeks after leaving their jobs in April, Amber Baldet and Patrick Mylund Nielsen are eating deviled eggs at a bar in Brooklyn as they prepare to reveal details about their next act for the first time. On a building a few blocks north, the blue, octagonal logo of their former employer, JPMorgan Chase, is perfectly framed within the sliver of skyline that’s visible from the street.

Baldet, who most recently served as the bank’s blockchain program lead, is cofounding a new startup, Clovyr, that aims to help consumers, developers, and businesses explore the nascent, albeit burgeoning, world of blockchain-based, decentralized technologies, she tells Fortune. She is joined by Nielsen, former lead developer of Quorum, a JPMorgan Chase-built blockchain for business, who will serve as the concern’s chief technologist.

Baldet unveiled a Clovyr demo at the Consensus conference in Manhattan on Monday afternoon. The company is in the process of fundraising.

Clovyr’s product, now under development, is slated to take the form of something akin to an app store, where people and businesses can experiment with a multitude of decentralized apps and services, developer toolsets, and underlying distributed ledgers. The cofounders envision the platform serving as a neutral ground, offering a browser-like dashboard for the blockchain-curious, through which Clovyr can provide support and other services to customers according to their needs.

A screenshot of the Clovyr demo during Baldet and Nielsen’s keynote address at Consensus, a cryptocurrency and blockchain conference.

Informing the duo’s mission is a belief in the inevitable, creeping convergence of public (Bitcoin-like) and “permissioned” (private, business-friendly) blockchains. Baldet compares businesses’ cautious approach to this brave new world to their leeriness when evaluating public clouds, like Amazon Web Services and Microsoft Azure, in years past.

“When public cloud started to be a thing, a lot of businesses said, Oh, cloud, it’s a great idea architecturally, but we’re going to go ahead and build our own private cloud internally, because it’s safer and we know what we need,” Baldet says. “Now they’re spending millions of dollars to undo a lot of that work in an attempt to migrate to the public clouds that have evolved to the point where they are secure and robust and connected.”

With respect to blockchains, “the conversation on the enterprise side right now feels a little bit like that,” Baldet says.

Businesses have good reason to be cautious about the hype surrounding this new generation of cryptographically sealed databases and virtual moneys, and Baldet is the first person to admit that. But she is taking a long-term view with Clovyr, and aims to provide people with the tools to bridge these two worlds in preparation for their potential, gradual intersection.

As one example of how a traditional company might begin to dabble with a public blockchain, Baldet suggests that tech staff might wish to “pin” a bit of cryptographically secured code associated with the state of a company’s internal networks onto an immutable, public ledger, like Ethereum’s blockchain. This could provide extra security, quality assurance, and auditability for the business, she says, and it is “probably the lowest barrier to entry.”

In addition to Quorum, Baldet and Nielsen say Clovyr will initially be compatible with Parity and Geth, two popular Ethereum software clients. They plan to add other blockchain integrations into the mix as demand dictates, they say.

This theme of creating hybrid blockchain environments—not unlike the development of hybrid cloud environments—is one that Baldet has been hinting at in a spree of talks in recent weeks, including at a recent MIT Technology Review conference and Ethereal, a community-building event put on by the Brooklyn-based Ethereum startup studio ConsenSys.

“Sorry, there’s no ICO,” Baldet jokes, referring to an initial coin offering, a trendy, if legally dubious, way for cryptocurrency-related projects to raise money. But companies interested in interacting with public blockchains can expect Clovyr to help take care of conversions from traditional dollars to cryptocoins for them, should they desire, she says.

About the Author
Robert Hackett
By Robert Hackett
Instagram iconLinkedIn iconTwitter icon
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

w
Environmentclimate change
The asphalt industry has a heat problem — and cities are running out of patience
By Aya Diab, Alexa St. John and The Associated PressMay 23, 2026
5 hours ago
SpaceX’s third-generation Starship, which NASA may use to put astronauts on the moon, makes debut in test flight ahead of blockbuster IPO
InnovationSpaceX
SpaceX’s third-generation Starship, which NASA may use to put astronauts on the moon, makes debut in test flight ahead of blockbuster IPO
By Marcia Dunn and The Associated PressMay 23, 2026
6 hours ago
Is a college degree still worth it? Here are 3 things it can teach you that AI can’t do
Future of WorkColleges and Universities
Is a college degree still worth it? Here are 3 things it can teach you that AI can’t do
By Jake AngeloMay 23, 2026
7 hours ago
Ashley Yetman
Commentarydisruption
Everyone is blaming AI for the death of ‘craft.’ Take a good look in the mirror
By Ashley YetmanMay 23, 2026
9 hours ago
Josh Smith, founder of Montana Knife Company.
SuccessEntrepreneurs
This 39-year-old quit his lineman job during the pandemic and built a $50 million company in his backyard
By Nick LichtenbergMay 23, 2026
9 hours ago
Jon McNeill
SuccessCareers
Former Tesla president shares the secret to success he learned from his former boss, Elon Musk: ‘He demands to only work with world-class talent’
By Preston ForeMay 23, 2026
11 hours ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
2 days ago
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
Success
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
By Emma BurleighMay 22, 2026
1 day ago
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
AI
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
By Jake AngeloMay 22, 2026
1 day ago
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
Success
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
By Preston ForeMay 22, 2026
1 day ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
4 days ago
Current price of oil as of May 22, 2026
Personal Finance
Current price of oil as of May 22, 2026
By Joseph HostetlerMay 22, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.