Crypto

JP Morgan Announces Prototype of Blockchain Platform for Capital Markets

J.P.. Morgan Chase & Co introduced the blockchain platform prototype which will be used for capital markets to reduce costs and make smoother bond transactions. According to the Wall Street Journal (WSJ) on May 16 the announcement was made on Wednesday in New York Consensus 2018 conference

JP Morgan's Blockchain Center of Excellence executive director Christine Moy, The Wall Street Journal can be transformed into a blockchain capital market infrastructure " "

Moy has hosted multiple systems and information flows between capital owners – from stock issuing companies, asset managers, clearinghouses to fund managers – in which a significant amount of capital transactions are made. he said. "

Moy stated that a blockchain infrastructure provides a single, convenient application for all of the institutions and organizations to participate in."

Moy stated that the blockchain infrastructure is the only advantage of using these inherently challenging financial instruments on Blockchain.

In addition to Santander's as well as another major bank and technology industry player as well as he believed that the application could significantly reduce the cost of such an application. JP Morgan is a member of the Enterprise Ethereum Alliance a non-profit organization that aims to work in partnership between Ethereum blockchain applications as well as enhancing privacy, scalability and security.

JPMorgan is investigating a blockchain system using scattered wallets to record payments sent from a bank to a bank using a peer-to-peer network.

Yesterday, JPMorgan co-chair Daniel Pinto bank "he looked at the world of cryptography" and said that this technology was "no doubt" about the "important role" of the bank's future.

"Crypto currencies are real, but they are not currently available in their current form."