The international blockchain consortium R3 has lost one of its founders, Goldman Sachs. But his misadventures did not end there. Other banks are also fleeing, which has a very negative impact on the state of the company. The consortium is already forced to reduce plans to attract investment, and this is just the beginning.
So far, the Spanish banking giant Banco Santander, Morgan Stanley and the National Australia Bank (NAB) are leaving the project.
The consortium has already reduced fundraising plans from $200 million to $150 million.
What is the reason for such a rejection of a large-scale project?
Initially, when forming a consortium, it was supposed to create a new company in which banks would own 90% of the shares, but they were offered only a 60% stake.
Most banks seem to have agreed, but time has put everything in its place. It has already become clear that not everyone is enthusiastic about investing money on such terms.
If the consortium has to cut the plan even further next year, it will have to look for alternative investors.
