ZCASH Core Developers Resign Amid Governance Dispute, While JPM Coin Expands to Canton Network

What Caused the Zcash Core Developers to Resign?

The Electric Coin Company (ECC) resigned following a governance conflict with the Bootstrap board. The team described the situation as 'constructive discharge,' a legal term for untenable employment conditions. The resignation stems from misaligned priorities and obstruction by the board, according to ECC's CEO, Josh Swihart.

The resignation sparked concerns about the governance model of Zcash and its future innovation roadmap. Zcash founder Zooko Wilcox confirmed that the Zcash protocol remains secure, open-source, and operational despite the leadership change.

The market reacted swiftly, with ZEC prices dropping over 18% in the immediate aftermath. Uncertainty persists about the new team's ability to sustain development and funding under a for-profit model.

Why Is JPM Coin Expanding to Canton Network Important for Institutional Finance?

JPMorgan aims to expand JPM Coin's availability across multiple blockchain networks, including Canton Network. The USD-backed deposit token is designed to enable fast, secure, and compliant transactions for institutional clients. This expansion aligns with JPMorgan's broader strategy to modernize financial infrastructure.

The collaboration with Digital Asset will be implemented in phases throughout 2026. Initially, the focus will be on technical and business frameworks for token issuance, transfer, and redemption. Future phases may expand to other Kinexys products, such as Blockchain Deposit Accounts.

Canton Network is positioned as a privacy-enabled public blockchain, combining scalability with compliance features. This makes it an attractive infrastructure for regulated digital cash and tokenized assets in institutional finance.

What Broader Trends Are Seen in Institutional Blockchain Adoption?

Institutional adoption of Canton Network is accelerating, with major players such as Nasdaq, Lloyds, and JPMorgan expanding their presence. Nasdaq's role as a Super Validator underscores the network's credibility, while Lloyds executed the UK's first public blockchain transaction using tokenized deposits.

This trend reflects the growing integration of blockchain infrastructure into traditional finance. Financial institutions are increasingly tokenizing assets and exploring digital cash solutions to improve efficiency and transparency.

JPMorgan's multi-chain strategy, which includes Ethereum and Base, is part of a broader shift toward interoperable blockchain ecosystems. The move highlights the need for secure, efficient, and compliant digital money solutions in capital markets.