According to CIO Journal, JP Morgan Chase & Co. showcased a prototype of its new blockchain platform for capital markets at the Consensus conference this Wednesday. “We believe this technology has the potential to change a lot of things,” said Christine Moy, executive director and head of the JP Morgan Blockchain Center.
JP Morgan has joined a number of other banks, including Banco Santander S.A., that are experimenting with the use of blockchain platforms in capital markets where huge sums and multiple stakeholders are involved.
J.P. Morgan and Santander are part of a consortium of banks and tech giants that last year formed the Enterprise Ethereum Alliance, a non-profit foundation aimed at bringing businesses and professionals together on the Ethereum network. Christine Moy and her team of 15 people will work throughout the year to overcome some of the obstacles facing the platform's opening. “The technology is still in its early stages,” she said.
Blockchain and cryptocurrency
Crypto enthusiasts have taken over Manhattan.
According to the publication, throughout the week-long Consensus conference in New York, there was a healthy dose of chic and the atmosphere of the Internet revolution of the 90s was felt again. Opposite the conference building was a booth selling “cryptocurrency jewelry,” including a gold ring with the Bitcoin logo for $8,700. And nearby, in the parking lot, stood three Lamborghinis - a symbol of those who got rich on Bitcoin.
... but not Wall Street
Several months have passed since reports that Goldman Sachs Group are planning to launch trading Bitcoin, but many other New York banks refuse to trade digital currency.
You've been played!
Credit must be given to the US Securities and Exchange Commission for coming up with a way to teach investors caution using a fake coin called “HoweyCoins.” The coin's website contained a white paper and photographs of celebrities promoting the token. However, those users who clicked on “buy a token” were redirected to the SEC website, which warned them that the token was fake. Thus, the SEC tried to warn investors that not all ICOs may comply with securities laws. This “gift” from the SEC did not go unnoticed and was appreciated by the conference participants.
According to https://blogs.wsj.com
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