Jamie Dimon is well known for his criticism of crypto. Even when JP Morgan slowly began adapting and looking into blockchain technology and cryptocurrencies, Dimon remained skeptical. It seems that some of his top staff is disagreeing with him even more. Web3 is supposed to be a new area and change the world and the way we are all going to interact online with each other.

Three execs from JPM picked up on this idea and left their employer for new positions.

Web 3 is the future

A lot of crypto projects have dedicated themselves to Web3. Some like Polkadot are even built with the vision in mind, that Web3 is indeed the future for the whole internet. But it is not only blockchain technology like Polkadot that is pointing towards the fact that Web3 is at least going to play an important role.

Meta is about to shape its own metaverse, Facebook is integrating NFTs and eBay likes to have a market share by offering a marketplace for trading NFTs. This is of course not directly connected to what Web3 might become or will actually look like. But all those technologies are associated with Web3 and it takes only very little to bring these companies closer to connecting with other technologies that are available.

Web3 is attracting talent

Eric Wragge, Puja Samuel, and Samir Shah have all three left JP Morgan for leading positions in the crypto industry. After facing a harsh bear market, a lending crisis, and even layoffs in many companies related to blockchain and tech and crypto, this is indeed good news.

According to Samuels’s Linkedin account, she is going to start as the head of corporate development for the Digital Currency Group. Wragge, a former managing director at JP Morgan, joined the Algorand Foundation which is responsible for the development of the Algrorand (ALGO) cryptocurrency and its underlying technology. Shah on the other hand has a brand-new position at the investment firm Pantera Capital as its COO.

All three have been incredibly successful in their career and it seems that they are leaving JP Morgan for something that could be bigger but is still in the making. Web3 remains a risky environment since its path isn’t clear. Many things and ideas are still under development while others have to stand the test of time.