JPMorgan Launches Trial Project to Test the Use of Blockchain Technology

JPMorgan Launches Trial Project to Test the Use of Blockchain Technology
01.02.2016 12:30 pm

JPMorgan Launches Trial Project to Test the Use of Blockchain Technology

Transaction Banking , Infrastructure

The bank is working with Digital Asset Holdings, the firm set up by its former head of commodities Blythe Masters, to address liquidity matches in its loan funds.


JPMorgan was one a of a group of top banks to join a $50 million funding round in Digital Asset Holdings last month. The startup is attempting to build a portfolio of blockchain-related financial services products aimed at improving efficiency, security, compliance and settlement speed. The bank is also involved in the bank-backed consortium effort run by R3 CEV and the Linux Foundation's Open Ledger Project.

Daniel Pinto, head of JPMorgan's investment bank, and a widely-touted successor to CEO Jamie Dimon, told the FT that loans were a good place to start trialing blockchain technology, because “the settlement process is complex with lots of manual intervention and multiple parties”.

“Blockchain will be big in everything related to settlement, and not just loans," he continued. "While it is still early days, the technology looks very good."

Related News

First Turkish-German trade finance transaction on Marco Polo blockchain network with İşbank and Commerzbank

İşbank and Commerzbank have jointly run an international trade finance transaction based on distributed ledger technology (DLT). Payments were secured by digitally processing... Read more »

Brazilians tend to increase spendings on ecommerce after the pandemic, EBANX study shows

A research launched by EBANX, on the impacts of the COVID-19 pandemic on the ecommerce market in Brazil and the post-pandemic perspectives, brings in the results an intention... Read more »

StructureFlow officially launches, providing new way to “see” the law

StructureFlow, a tech start-up helping lawyers and finance professionals quickly and... Read more »

Mastercard: Contactless payments have become the “new normal” across the UK

As Mastercard reveal that 66 per cent of all transactions across the UK are now contactless, new research released today identifies consumer habits and viewpoints that mean... Read more »

DenizBank Uses OneSpan’s Mobile App Security Solution to Handle Doubling of Demand from COVID-19

OneSpan™ (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced that leading Turkish... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel