JPMorgan patent punts on blockchain for ‘network payments’

In spite of what CEO Jamie Dimon may say in regards to digital forms of money, U.S. managing an account monster JPMorgan Chase is as of now moving towards blockchain—the innovation that powers the advanced coins.

Back in September, Dimon stood out as truly newsworthy when he debilitated to terminate any JPMorgan representative who will exchange BTC, calling the digital currency a fake and an air pocket that would in the end "explode."

It's significant, be that as it may, that the JPMorgan CEO figures blockchain can be helpful later on, so it shouldn't come as an unexpected when it was uncovered that the multinational bank connected for a blockchain patent a month after Dimon's tirade.

JPMorgan's sneak move was uncovered by the U.S. Patent and Trademark Office, which affirmed that the multinational bank had connected for a blockchain-related patent in October.

The patent is titled, "Frameworks and Methods for the Application of Distributed Ledgers for Network Payments as Financial Exchange Settlement and Reconciliation." This adds up to a minor departure from blockchain innovation and hopes to rearrange the bank's back office activities. One thinks about how far advance on this issue has been made however its sure that the bank is currently investigating blockchain innovation, while, in the meantime, its CEO was impacting everything digital currency.

JPMorgan is one of the huge players in the United States, holding the second biggest position by showcase top around the world. Dimon has been really frenzied about digital forms of money as of late. At the point when the cost of BTC soar in late 2017, Dimon demanded that the digital money was a cheat, and even went similarly as debilitating to flame anybody in the bank who chose to exchange cryptographic forms of money.

Dimon kept raving about Bitcoin for a little while, calling financial specialists dumb and that they would in the long run pay the cost for putting resources into the crypto showcase. Be that as it may, 2018 saw Dimon in a more placating mind-set with the bank recognizing the significance of the crypto advertise all in all. With this new patent, it creates the impression that JPMorgan is hoping to take advantage of the lucrative settlement advertise, which is worth billions of dollars a year.

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