Category Archives: JPMorgan

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JPMorgan: Kryptowährungen entwickeln sich weiter überdurchschnittlich

JPMorgan
Die Einschätzung der Investmentbanker bleibt zwiegespalten: JPMorgan sagt, dass der “faire Preis” für BTC bei 35.000 USD liegt, erwartet gleichwohl noch eine “Outperformance” für Kryptowährungen.
 
Source: BTC-ECHO

Der Beitrag JPMorgan hält Kryptowährungen für “überbewertet” erschien zuerst auf BTC-ECHO.

JPMorgan: “Bitcoin bei Institutionellen derzeit beliebter als Gold”

Bitcoin wiegt auf der Waage schwerer als Gold.
Bitcoin konsolidiert sich weiter im Bereich der 50.000 US-Dollar. Gleichzeitig beobachtet JPMorgan eine steigende Migration institutioneller Investoren von physischem in digitales Gold.
 
Source: BTC-ECHO

Der Beitrag JPMorgan: “Bitcoin bei Institutionellen derzeit beliebter als Gold” erschien zuerst auf BTC-ECHO.

JPMorgan Chase Patents Blockchain Technology For Tracking Auto Dealer Inventory

JPMorgan Chase, a financial powerhouse with assets in excess of USD 2.76 trillion, has patented a blockchain-based technology that facilitates a distributed ledger version of floorplan lending.

Essentially, floorplan lending allows auto dealers to put up their car inventory as collateral for a revolving line of credit. However, this can be an arduous process for the bank, since agents have to be physically sent to auto dealerships to verify the collateral. Also, sometimes auto dealers pledge a car as collateral to one bank while pledging the same car as collateral to another bank as well. This is called ‘double flooring’, and whether this is intentional fraud or an accident, it can cause unexpected losses for banks.

JPMorgan’s patent proposes using the Quorum blockchain to store the vehicle identification number (VIN), as well as information from a range of sensors on the car including geolocation. This will not only cut costs since a physical agent will no longer be necessary to verify that the car is there but also if all of the banks cooperate and use the same blockchain, then this system has the potential to completely eliminate double flooring.

This is the first time that JPMorgan’s Quorum blockchain has moved beyond abstract financial operations. Previously Quorum had been primarily used for issuing debt and linking bank networks.

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JPMorgan Coin Gets Blockchain Reboot

JPMorgan Coin Gets Blockchain Reboot

A report today claims that JPMorgan Chase has rebooted the underling blockchain of it its prototype cryptocurrency, JPM Coin, following six month long efforts from technologists in London, Singapore, and the US.

JP Morgan’s private version of the Ethereum blockchain, Quorum, has had an overhaul of its privacy features in an effort to make the technology suitable for use by a wider selection of firms. This ambition has also been pursued through JP Morgan’s partnership with Microsoft Azure, which Quorum head Oli Harris has said is also a stepping stone for offering a corporate spin-off of the software project.

The behind the scenes updates to Quorom have focused specifically on re-writing its privacy layer, Constellation, replacing its current language Haskell with Tessera. Tessera operates a similar design but is built in Java, making it more accessible for businesses to deploy.

Harris told CoinDesk the engineering collaboration between JPMorgan and Microsoft should enable the bank to focus on the potential business applications of the technology, while Microsoft can ”[deal] with a lot of heavy lifting.”

JPM coin was launched in February this year, with JPMorgan being the first major US bank to create its own digital currency.

 

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JPMorgan Inspired But Worried About China Fintech

JPMorgan Inspired But Worried About China Fintech

A recent expedition by JPMorgan Chase & Co executives to China to conduct business reconnaissance of their financial technology (fintech) has resulted in mixed feelings of inspiration and worry, according to the consumer bank’s CEO Jamie Dimon.

In a letter distributed to shareholders last week, Dimon outlined the vast progresses made by Chinese banking firms in fintech, claiming that the evidence had spurred top brass to act even quicker on innovation measures:

“It’s hard not to be both impressed and a little worried about the progress China has made [with artificial intelligence and fintech]… It made our management team even more motivated to move quickly.”

During the China trip, the team paid visits to companies that could open accounts almost immediately with machine learning, and firms that could pay out claims in a few ours with just smartphone images.
Dimon is a long-time advocate of investing in innovation, in 2017 dubbing technology “the greatest thing that has ever happened to mankind”. Bloomberg reported in February that the bank would boost its annual tech budget to USD 11 billion, including to research machine learning.
However, Dimon has not always taken kindly to cryptocurrency and blockchain, criticizing Bitcoin often in past yeas. He has seemingly changed his mind, backing blockchain last year. JPMorgan Chase itself has been stirring in the crypto scene, with its quiet launch of JPM Coin in February targeting institutions.

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World Bank Says DLT Can Drive Cross-Border Payments

World Bank Says DLT Can Drive Cross-Border Payments

A senior financial specialist at the World Bank has released a paper which claims that distributed ledger technology could help bring down remittance costs and improve cross-border payments compliance.

The World bank blog also states the “industry is ripe for disruption“, citing DLT as being well positioned to make its mark. The post was written by World Bank senior financial sector specialist Marco Nicoli along with Rodrigo Mejia-Ricart, research and public policy analyst at the United Nations and Camilo Tellez, head of research and innovation at the Better than Cash Alliance. The post criticizes current traditional B2B cross-border payments as being too slow and points out the faults quite succinctly:

“Moving funds through the current corridors requires transferal through the relevant domestic payment systems, which often have different operating hours and are located in different time zones… For certain corridors, the funds must be routed through several banks and intermediaries before they reach their destination, leading to higher fees and slower payment settlement.”

There is a multitude of options operating within the payment space, making it hard for DLT to find a position which users trust, tied for years to traditional systems, and dependent on them despite their pitfalls. The paper suggests that cost, one major burden for users of current payment systems, could be reduced if existing companies followed models such as Ripple, Circle, Swift, Visa, and JPMorgan, who are all active within the space, and currently bringing new innovations to the cross-border payment sector.

One major area of concern which was seen as a hurdle to the take up of DLT in this sector was a general distrust of such solutions due to industry concerns and misunderstanding regarding the nature of cryptocurrency, borne from the same technology.

Other concerns were raised on the subject of bringing DLT into direct competition with established CBP systems such as security, governance rules for protocols, recourse mechanisms for users, privacy, and scalability.

 

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