JPMorgan Chase Bank’s Quorum blockchain is to be deployed for tokenizing gold bars to ensure direct trade between entities.
JPMorgan’s payment project based on blockchain technology has welcomed more than 75 banks that are ready to participate in trials.
Crypto sphere attracts all the more attention winning minds of governments, top industrialists and businessmen. Now richest bankers and the whole dynasties take the lead in this crypto expansion.
J.P. Morgan Chase Chairman and CEO Jamie Dimon has taken back his critical words about bitcoin admitting the usability of blockchain technology for financial markets, even though he still has no desire to deepen into the subject that much.
JP Morgan, one of the largest banking institutions in the United States, is looking at allowing its clients to trade bitcoin futures, while its Chief Executive James Dimon stays negative to Bitcoin believing it’s a fraud.
The bank will buy the technology, developed by Merchant Customer Exchange (MCX), to drive the expansion of its smartphone payment application Chase Pay.
Nine of the world’s major banks, such as JP Morgan, Goldman Sachs and Barclays, are expected to adopt the blockchain technology in an attempt to broaden its use in the financial services sector.