David E. Rutter denied rumors about R3 unprofitability

Verified
5 months ago
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Last week several media sources reported about the unprofitability of the blockchain-consortium R3, after Goldman Sachs, JPMorgan and Santander left the group. In addition, there was announced possible bankruptcy of the company by 2019.

David E. Rutter, the head of the R3, refuted the rumors. According to him, the company has “the largest funding base in the enterprise blockchain space”.

There was also leaked information about the consortium’s publicly announced revenues, which exceed real profits. Rutter denied the reports, saying that R3 “has always been very sensitive of operating as cost-efficiently as possible”.