Summary of “Crypto Pioneers Head to Brooklyn to Reshape Finance”

The employees of ConsenSys Inc., the blockchain startup co-created by Ethereum guru Joseph Lubin, have taken over the space at 49 Bogart St. in the Bushwick neighborhood of Brooklyn, New York.
As ConsenSys spins off new ventures and attracts business partners, in Bushwick and adjacent Williamsburg, once part of New York City’s industrial heart, the crypto world has contributed to ongoing gentrification.
“There’s an energy here that you don’t find in Manhattan or anywhere else in New York,” said Tyler Clark, co-founder of blockchain developer Cryptonomic, which he started with a former colleague from JPMorgan Chase & Co. “ConsenSys is an inspiration to us.”
Though Manhattan has its own blockchain businesses, they’re more closely associated with established companies such as Microsoft Corp. and Intel Corp. than rebel Brooklyn would tolerate.
Brooklyn is planting its crypto-flag during New York’s Blockchain Week.
“This is the planting of the flag in Brooklyn for blockchain. Legacy finance is headquartered in Manhattan. Future finance is in Brooklyn.”
R3 designed its own blockchain, called Corda, and this year plans to launch a number of applications, including Tradewind, a gold-exchange company on the Corda blockchain; HQLA X, a securities-lending platform that recently had its first trade; and Fusion LenderComm, an application for syndicated lenders.
According to New York City’s Economic Development Corp., in 2015 there were 93 job openings listed for Brooklyn blockchain companies.

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