JPM Coin: the test operation starts in this year

Von

Juni 26, 2019

J. P. Morgan, the Bank of the Bitcoin skeptics Jamie Simon, Chairman, sent to your Altcoin this year in the test. Once more, an improved transaction speed is the focus of the effort.

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26. June 2019BTC$12.811,00 12.25%part Facebook Twitter LinkedIn xing mail

Faster, better, more. In about the of all apply most crypto projects their currencies. In this respect, J. P. Morgan is not take. Because, as one press report, the Bloomberg Japan on Tuesday, the 26. June, has launched in order to accelerate the JPMorgan Coin (JPM Coin) the resolution of Intra – and inter-Bank transactions significantly. In financial transactions, such as intra-group Transfers and bonds transactions are Bloomberg to be in the foreground.

The technology, based on Quorum, to go accordingly, this year, in the test operation. Which companies participate in runs of the test, however, it is not yet known.

„The technology works. We just need more time to obtain all the necessary licenses,“ Bloomberg cites of Japan, Umar Farooq, chief of the Blockchain Department at JP Morgan Chase.

JPM-Coin-Blockchain Quorum on Ethereum-based

In collaboration with the London-based Start-up, Aztec the big Bank has developed a private Blockchain named Quorum, which is supposed to be based on Ethereum. Also called a Zero-Knowledge-Proofs are to be used. So can the proof of the factual accuracy of a data set is to be provided, without having to know the data set itself. Trivial is the realisation that it is a mathematical Problem with a certain complexity.

Stable-Coin-mania among large corporations

The JPM Coin is considered as a so-called Stable Coin. Under a Stable Coin, you understand crypto-currencies, the value of the holding, by the base values, such as the U.S. map on the Dollar. The JPM Coin will be backed by the US Dollar and is likely to occur because of the similar Use Case as Interbankencoin with platzhirsch Ripple in competition.

In contrast to Bitcoin, Ether, & co. have Stable Coins – in theory – a significantly lower volatility. They are, therefore, less as an object of speculation because, as a settlement mechanism for inter-Bank transactions. Or, as in the case of Facebook’s Project Libra to be the case, as a global, inclusive Payment solution. A comprehensive introduction to the wondrous world of Stable Coins can also be found in our Tutorial.

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