The Bank JPMorgan Chase & Co issued guidance on the blockchain for financiers

 The Bank JPMorgan Chase & Co issued guidance on the blockchain for financiers 

The Bank JPMorgan Chase & Co and consulting firm Oliver Wyman published for managers of banks to guide titled “Unleashing the economic benefits of the blockchain” (Unlocking Economic Advantage with Blockchain).
The document States that all risks associated with the use of the blockchain, become insignificant in the light of the radical changes they incur in the financial industry. In this regard, the financiers need to master this technology, not to be outside the new realities of doing business.
"Journey into the world of the blockchain can be long and confusing but in the end you will realize that this is what we need". Unlocking Economic Advantage with Blockchain
Over the past two years many banks, including JPMorgan, Goldman Sachs, Credit Suisse and Deutsche Bank, focused on asset management. This was due to the signing by US President Barack Obama to the Dodd-Frank reform of the financial sector and consumer protection (Dodd-Frank Wall Street Reform and Consumer Protection Act), providing for strict limitations and heavy fines in case of violation.
To date, JPMorgan is among the world's largest management companies with a portfolio of $2,424 trillion. To manage this capital wisely and efficiently, the Bank's management is looking for new operating models that were suited to the rapidly emerging market.
"Our vision of reliability blockchain technology is based on Frank discussions between clients, banks, Central securities depositories and companies that provide paid services. Unlocking Economic Advantage with Blockchain
The document also describes the most common misconceptions about the blockchain and shows how technology is able to rebuild the financial markets. The blockchain is called "a truly unique innovation.
In addition, the authors of the guide believe that the use of the blockchain can solve many problems in the banking activities-for example, to eliminate risks in the management of collateral.
Note that in recent years more and more financial institutions are turning their attention to the blockchain. So, last week about testing open innovation platform Rise, said the African group banks Barclays Africa.