JP Morgan CIO Talks Blockchain For Payments and Data Storage, Replacing Existing Technology

2018-8-28 20:40

Blockchain To Replace Existing Technology States JP Morgan CIO

At a press conference in Buenos Aires, Lori Beer said that blockchain will “replace existing technology” in a few years. Lori, who in addition to being the CIO of JP Morgan has a place in the operating committee.

Notably, JP Morgan uses blockchain technology to “simplify the payment process and to store customers’ information related to KYC (Know Your Customer) policy.” She added that blockchain technology helps to prevent money laundering.

JP Morgan began its own distributed platform called Quorum last March that runs on the Ethereum Blockchain (ETH) and allows the operation of smart contracts. The expert said that they created this open source platform with the objective of “making the ecosystem grow and returning something to the [crypto] community”.

“We are currently following many paths. We invented a blockchain with an open code based on Ethereum. Actual blockchain technology has not yet resolved issues with privacy and scalability that we needed. We are connected to Hyperledger and Enterprise Ethereum Alliance. The application of this technology in business is more important to us than the technology itself. We are looking not only for cost reduction but also for opportunities to develop new products.”

Beer was also asked about JP Morgan’s position on buying cryptocurrencies. She explained that the bank only supports what is regulated and has specialists who are “evaluating what is happening” with virtual currencies. When asked about the JP Morgan's opinion about Initial Coin Offerings (ICOs), Beer did not respond.

Earlier this month BitcoinExchangeGuide had reported that JP Morgan’s CEO Jamie Dimon is pro blockchain but anti cryptocurrencies for business.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Performance Blockchain (HPB) на Currencies.ru

$ 0.0067267 (-0.33%)
Объем 24H $21.558k
Изменеия 24h: 1.91 %, 7d: -34.87 %
Cегодня L: $0.0066099 - H: $0.0069325
Капитализация $491.517k Rank 2074
Цена в час новости $ 0.8798 (-99.24%)

blockchain technology morgan cio existing lori replace

Источник: bitcoinexchangeguide.com

blockchain technology → Результатов: 126


DDO Chain: Building Scalable Enterprise Blockchain Solutions

In today’s digital era, blockchain technology has become a focal point across various industries. As businesses urgently seek digital transformation and continuously strive for data security and transparency, blockchain technology emerges as a decentralized, secure, and trustworthy database technology, increasingly applied in enterprise-level solutions.

2024-5-1 15:00


Bedbugs on Blockchain: South Korea Experiments With DLT to Fight Pest Infestation

In a fusion of technology and public health, blockchain engineer Kang Jae-gu has launched a data-centric initiative to combat South Korea's escalating bedbug infestation. This novel application of blockchain technology is a testament to its expanding global influence and potential to provide solutions in diverse sectors beyond finance.

2023-12-19 10:00


Фото:

Goldman Sachs Thinks Blockchain Is The Greatest Thing Since The Internet And Holds The Key To The Future Of The Metaverse

Goldman Sachs has praised the features of blockchain technology and called it the future. The investment back says that the metaverse will thrive on blockchain as we move to a decentralized future. More institutions are embracing the power of blockchain technology with central banks using the technology to build their CBDCs. Blockchains were given the […]

2021-12-19 18:27


Taking IoT into the Future: Cartesi Joins Forces with IoTeX

With an upcoming Ideathon for Dutch Blockchain Week, the collaboration will provide innovative IoT services with all the safety and security benefits of blockchain technology This year has seen the near infinite applications of blockchain technology continue to positively impact the world and the thousands of businesses within it, with growth in the industry not […]

2021-12-2 17:00


Taking IoT into the Future: Cartesi Joins Forces with IoTeX

With an upcoming Ideathon for Dutch Blockchain Week, the collaboration will provide innovative IoT services with all the safety and security benefits of blockchain technology This year has seen the near infinite applications of blockchain technology continue to positively impact the world and the thousands of businesses within it, with growth in the industry not set to pause anytime soon.

2021-12-2 17:00


Blockchain as a Service Protocol Stratis Attracts Investment From Alphabit Digital Currency Fund

Blockchain technology has taken on various forms since the introduction of Bitcoin and continues to evolve even today to meet the industry’s ever-changing demands and needs. Businesses and companies could benefit enormously from blockchain, but integrating distributed ledger technology is often expensive and time-consuming.

2021-2-2 12:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

How Crypto is Shaping Professional Sports

Crypto sector observers believe it's only a matter of time before all major sports apps accept Bitcoin and other major cryptocurrency. That prediction carries weight as we're already seeing crypto impact the professional sports industry at every level - here's how.

Crypto Fear and Greed Index hits 74: What it means for Bitcoin

The crypto fear and greed index recently hit 74, indicating extreme market greed. Bitcoin miner revenue soared over the past month. The rally that Bitcoin [BTC] saw over the last few weeks, The post Crypto Fear and Greed Index hits 74: What it means for Bitcoin appeared first on AMBCrypto.