JPMorgan reported about the successful testing of the blockchain-service

The banking conglomerate JPMorgan complicated relationship with cryptocurrency financial institution maintains the blockchain, however, opposed to digital money. It got to the point that one of the customers filed into the Bank to court over imposed retroactively 30% Commission for buying coins with a credit card. Now, the company spoke about the successful testing of the blockchain-service, Quorum, says CCN.

Banks adopting blockchain

Quorum designed to optimize procedures of issuing debt bonds, together with JPMorgan tested the National Bank of Canada and Goldman Sachs. The system has successfully established a certificate of Deposit Yankee for $ 150 million.

In conversation with the publication of Vice President, artificial intelligence and the blockchain Bank David Furlong said control register “will encourage traditional financial institutions to major changes”.

The Quorum service in 2016 was developed by experts from JPMorgan. It allows you to speed up and simplify operations with derivatives and cross-border transfers. In March, the project was separated from the Bank. Then it was reported that competitors of financial institutions do not use the service for economic reasons, as a separate company he will have more opportunities for development.

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