How JPMorgan’s Onyx is redefining payments in banking with blockchain

What is one of the biggest banks in the world thinking and doing about blockchain?

For over five years, JPMorgan Chase & Co. has been advancing blockchain technology in the banking sector. Its JPM Coin — a wholesale payment stablecoin that is pegged 1:1 to the U.S. dollar — is now transacting billions of dollars every day. JPMorgan’s open information-sharing network Liink — formerly known as Interbank Information Network — now has over 400 banks. Just last October, after JPMorgan sold Quorum, its blockchain protocol to the Brooklyn-based blockchain software firm ConsenSys, the banking giant established Onyx, its new blockchain unit.

“We're building a shared software, a collaborative infrastructure with this new emerging technology. And it's not just JPMorgan building products and services and selling it to everybody,” Christine Moy, the global head of Liink at Onyx, told Forkast.News in a video interview.

Read the full story at Forkast.News:
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ABOUT FORKAST.NEWS
Forkast.News is a digital media company covering blockchain, DLT, cryptocurrency, and other emerging technologies at the intersection of business, economy, and politics in a way that anyone can understand. At Forkast.News, we bridge the gap between the blockchain industry and the mainstream.

ABOUT ANGIE LAU
Angie Lau is editor-in-chief, CEO, and founder of Forkast.News. She is an award-winning veteran journalist, a respected thought leader in blockchain technology, and a speaker at conferences around the world including the Forbes Summit, Binance Blockchain Week, Paris Blockchain Week Summit, and the Asia Blockchain Summit.

Before founding Forkast in July 2018, Angie anchored Bloomberg TV’s flagship morning show “First Up with Angie Lau” broadcast globally into 350 million homes, offices, and trading floors. Angie’s TED Talk “I Am Not Supposed to Be Here” is now a TED-Ed lesson for its global audience of 6.7 million followers.
#JPMorgan #Blockchain #Onyx

[hunterrodriguez]

"how do we (banks) create new revenue streams in the banking and payments world with more transparency coming through" THE BANKS ARE SCARED SHITLESS!

[nreynolds]

No offence to these JPM employees but JPMC will fail because they are desperately trying to use marketing to defeat the inevitable future of rampant interoperability across walled gardens. The banking system, whether in the US or abroad, will not capitulate to such amateurish attempts to assert control over these new payment infrastructures. They are late to the game. JPM can use all the influence they have but they, ironically, will be the among the legacy big dogs to capitulate. What a beautiful example of redistributed, decentralised centralization this will be.

[indosurftours]

Sounds like the same concept of xrp to me??

[psychevolvexrp]

Ripple solved cross-border payment problem 10 years ago so it hasn't been solved for the better part of 20 years, not 30 years, just had to correct that guy LOL

[jamestracey]

Absolutely 100% cringe I'm still buying though 😝😝

[psychevolvexrp]

That guy needs to get some sleep though LOL, he's been working his ass off on a problem that has already been solved LOL