Former Barclays CEO joins Bitcoin firm Blockchain board

According to foreign media reports, Antony Jenkins, one of Europe's most well-known bankers, has joined a Bitcoin startup.

Jenkins, a former Barclays chief executive, said he has joined the board of directors of London-based bitcoin startup Blockchain.info, which raised $30 million in a Series A round in 2014.

With the announcement, Jenkins becomes the latest heavyweight financial executive to join the blockchain industry, joining former JPMorgan Chase CEO Blythe Masters, who now runs blockchain company Digital Asset, and former New York Stock Exchange CEO Duncan Niederauer.

In a blog post, Blockchain CEO Peter Smith praised Jenkins, detailing a 2015 speech in which the former Barclays CEO outlined how blockchain technology would fundamentally change financial services.

Smith goes on to write:

“I think the reason for working with Mr. Anthony is simple: this emerging technology will enable a whole new financial ecosystem. It’s right from a timing perspective.”

In addition, Mr Smith said blockchain will process about $50 billion in transactions this year, about a third of which will come from institutions.

Meanwhile, early competitors such as Circle and TradeBlock have turned to back-end digital currency applications to facilitate traditional currency transfers and other services.

In a statement, Jenkins said:

“Blockchain technology has the potential to transform the way we use money, helping to improve the quality of the financial system and bring lower costs, greater security, fairness and transparency. I am honored to join the company and play a pivotal role in ushering in this new era,” he said.