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Tag Archives: JP

JP Morgan Identifies Three Companies Whose Stock Could Benefit From Blockchain

Investment bank and financial services firm J.P. Morgan Chase has identified three public companies whose stock it believes will benefit from their applications of blockchain technology, CNBC reported Nov. 8. In a note to clients, J.P. Morgan reportedly forecast that IT companies will deploy blockchain in the same way that many firms claim to benefit from machine learning and artificial ...

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J.P. Morgan Now Supports Blockchain Tech, Highlights Importance of Open-Access Code

J.P. Morgan, who’s CEO Jamie Dimon previously called Bitcoin “a fraud” and would “fire a trader in a second” for dealing in Bitcoin will now be pursuing Quorum, an enterprise version of Ethereum. Quorum’s chief goal is to enable the operation of smart contracts and will start with “tokenised gold bars to allow sustainable miners to earn a premium on ...

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JP Morgan’s Ethereum-Based Quorum Blockchain Will Tokenise Gold Bars

US banking giant JPMorgan Chase Bank’s blockchain, Quorum, will be used to “tokenize” gold bars. Quorum is the enterprise version of the Ethereum blockchain, developed by JPMorgan Chase, will ensure users operate smart contracts while using pre-programmed rules to automate them. The ethereum-based blockchain will afford sustainable miners the opportunity of earning a premium on the global market. In a ...

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Blockchain Can Avert the Next Financial Crisis: Former JP Morgan VP

Pang Huadong was at the heart of the crumbling financial services industry during the 2008 financial crisis, and from his experience during that troubled time, he believes that blockchain technology is the answer to averting such a crisis. Blockchain technology significantly reduces the cost of trust, which in the long run will lower the costs associated with the financial services ...

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JP Morgan Appoints New Director of Crypto Assets Strategy

According to a Business Insider report on May 17th, JPMorgan Chase, the leading US banking group and financial services company, recently created and filled a new position— the head of Crypto Assets Strategy. Crypto Assets Strategy Oliver Harris, 29, will assume this new role and report to Umar Farooq – head of blockchain development. Harris will also lead JPMorgan’s internal blockchain project, ...

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Why JP Morgan’s Blockchain Patent Application Is Not That Surprising

JP Morgan once again caused a bit of an upheaval within cryptocurrency circles last week – this time with the publication of their peer-to-peer (P2P) payments network patent application based on distributed ledger technology, like blockchain. Some crypto enthusiasts branded the move as “hypocrisy to the extreme.” The criticism is not unfounded but perhaps not accurate. The bank, and to ...

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JP Morgan Announces Prototype Blockchain Platform to Streamline Capital Markets Infrastructure

J.P. Morgan Chase & Co presented a prototype of its blockchain platform for capital markets, which aims to cut costs and enable smoother securities transactions. The announcement took place at NY’s Consensus conference Wednesday, the Wall Street Journal reported May 16. Christine Moy, executive director of J.P. Morgan’s Blockchain Center of Excellence, told WSJ that blockchain “has the potential to ...

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JP Morgan Files Patent For Blockchain-Powered P2P Payments Between Banks

JP Morgan Chase & Co. has outlined a peer-to-peer payments network in a patent application filed with the U.S. Patent and Trademark Office (USPTO) yesterday, May 3. The network would use distributed ledger technology (DLT), such as blockchain, for intra- and inter-bank settlements. The application describes the drawbacks of the conventional bank settlement system currently in place for cross-border payment ...

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JP Morgan Chase Sued Over High Crypto Purchase Charges

JP Morgan Chase & Co. finds itself in court facing a lawsuit that accuses the bank of usury stemming from a customer that used his credit cards to buy cryptocurrency from exchanges such as Coinbase. Customer Files Federal Law Suit Against Morgan Chase Fortune reports that the suit was filed on Tuesday, April 10 at the federal courthouse in Manhattan ...

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J.P. Morgan Chase Sued For Charging Crypto Buyers With Surprise Fees

J.P. Morgan Chase & Co, a leading global financial services provider and one of the largest banking institutions in the US, was sued for charging undeclared fees to customers who used their credit cards to purchase cryptocurrency, treating the purchases as cash advances, Reuters reported April 11. The lawsuit was filed on Tuesday in a federal court in Manhattan on ...

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