The tests of JPMorgan with Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. allowed the entity to process transactions of tokenized assets and securities outside of the closing hours of the stock markets, which opens the door to many other trading opportunities.
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- JPMorgan tokenized securities and stocks.
- Performed test transfers outside of business hours .
- The bank tests use cases for Blockchain.
The high-profile international bank based in the US, JPMorgan, could be contemplating the possibility of using technology Blockchain to tokenize the process by which real-world assets are turned into something of digital value called a token, often subsequently able to offer ownership of parts of this asset to different owners. stocks and other securities in traditional sectors.
JPMorgan test Blockchain for the tokenization of shares and securities
The information was published by the news agency Bloomberg, which indicated that the JPMorgan would be testing with technology Blockchain para transferir liquidaciones de garantías, las cuales tendrían lugar después del horario de cierre de los principales mercados.
Al respecto, en el informe se lee lo siguiente:
“The bank’s first such transaction occurred on May 20, when two of its entities transferred token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. representation of BlackRock Inc. money market an area or arena, online or offline, in which commercial dealings are conducted. fund shares as collateral collateral is any asset that a lender accepts as a form of security to ensure that the borrower repays a loan. on its private Blockchain network. The effort will allow investors to pledge a wider range of assets as collateral and use them outside of market operating hours.”
In this regard, the head of commercial services for JPMorgan, Ben Challice indicated that this allowed the entity he represents to instantly move a collateral asset without any problems:
“What we have achieved is the seamless transfer of collateral assets instantaneously.”
In addition to the above, Challice also disclosed that BlackRock está explorando el uso de Blockchain for similar purposes, so the prestigious entity is also conducting its tests in this regard.
Good prospects for this technology
While this is an important announcement on the part of JPMorgan, The truth is that the entity has already been exploring the usefulness of the Blockchain for their operating model, which they have said openly and about which they are particularly optimistic.
Among the short-term plans, JPMorgan says it plans to increase its use of collateralized settlements in the coming months, which would be incorporated into derivatives transactions, securities lending and other assets, with the prospect of including even more as it moves forward.
Regarding cryptocurrencies, the bank has had an ambivalent position that is currently leaning towards “in favor” of these assets. Earlier this week, JPMorgan said in a statement that digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies are replacing real estate as an alternative asset of choice for investors, reflecting increased interest in acquiring and trading them in major markets.
Beforehand, JPMorgan also revealed that there was a high demand for Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. and other cryptocurrencies among its users, something with which the director of the entity does not seem to agree very much, since in front of this Jamie Dimon said that personally he does not consider that there is value in cryptocurrencies, but he is not the one to tell people what to invest investing is when you put money in a financial scheme with the intent of making a gain. in and what not.
- JPMorgan sees 28% upside for Bitcoin, says crypto is its preferred alternative asset
- JPMorgan CEO Jamie Dimon acknowledges that DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. and blockchain are “real technologies” with utility
- JPMorgan Bank opens a lounge in the metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users.
Source: Daily Mail , Bloomberg
Version by Angel Di Matteo / DiarioBitcoin
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