It looks increasingly likely that if R3 and Ripple do end up in court, they will do so in New York

Former Fintech correspondent

R3 and Ripple could be heading for a legal showdown in New York after a California court ruled it did not have jurisdiction over a case in which the two blockchain groups are disputing ownership of $1bn in cryptocurrency.

The ruling is the latest twist in a long-running battle between two of the world's biggest companies to develop the technology underpinning bitcoin, which is breaking records on an almost daily basis.

California court dismisses $1bn cryptocurrency feud

Yolanda Bobeldijk

Barclays

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The Davos founder rejected preliminary findings of misconduct, including improper travel expenses and gifts.

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