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Briefing
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- JPM Coin – U.S. bank JPMorgan Chase developing cryptocurrency named JPM Coin for bank’s customers on company’s own Quorum blockchain
- Dollar-Based – Value of coin, designed to help business-to-business (B2B) clients move money across world, will be tethered to dollar
- Quorum – Private blockchain based on fork of modified Ethereum, with network owner in control of who has access, and transactions only visible to involved parties
- Authentication Protocol – Relies on majority vote among network nodes, with each node tied to verified identity as vetted by network owner
- Scalable – Handles hundreds of transactions per second, order of magnitude improvement compared to Ethereum’s throughput of 15-20 transactions per second
- Expansion – Coin system could expand to other blockchain networks and more consumer applications, such as payments issued over wireless devices, in future
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Accelerator
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Market Disruption
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Business Model and Practices
Business Model
and Practices
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Sector
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Financial Services
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Function
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Accounting and Finance
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Organization
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JPMorgan Chase & Co.
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Source
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Original Publication Date
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February 15, 2019
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