tech news

Major blockchain developer ConsenSys announced job losses

LONDON: Main blockchain developer ConsenSys has laid off round 14% of its workforce, it stated on Feb 4, a transfer that comes as corporations all over the world frantically seek for functions for the much-hyped expertise.

New York-based ConsenSys is among the largest specialist blockchain builders to have emerged from the appearance of the shared ledger expertise, initially conceived as the premise of the bitcoin cryptocurrency.

Corporations from banks and oil merchants to retailers and tech distributors, drawn to its promise of constructing cumbersome processes extra environment friendly and safe, have invested billions as they give the impression of being to seek out makes use of for the expertise. Many have turned to blockchain improvement startups within the course of for technical experience.

But there have been few main breakthroughs thus far within the sensible utility of blockchain, regardless of the spate of checks and pilots.

The restructuring at ConsenSys will separate its software program improvement enterprise from its enterprise actions, the corporate stated in a press release. ConsenSys focuses on the ethereum blockchain, which underpins the world’s No.2 cryptocurrency ethereum.

The cuts would enable it to “be higher aligned with the wants of a targeted software program improvement firm”, ConsenSys stated in a press release.

A spokeswoman for the corporate stated the job losses would fall in roles throughout human sources, finance and advertising, with product groups unaffected. She declined to touch upon the variety of general job losses.

In December 2018, ConsenSys reduce round 13% of its workforce, which then totalled over 1000. The agency, which was based in 2014, operates in about 30 international locations, with main places of work in London, Dublin and Paris. – Reuters

Leave a Reply

Your email address will not be published. Required fields are marked *