A precedent that undoubtedly causes a stir in Bitcoin in addition to endless innovations technological advances, which therefore brings a series of changes in the area of fintech that emerged for the first time in this century, for many of the central bankers, it was unnoticed and mocked the arrival of Bitcoin.
But the increasing speed of technology changed. Again, the new ideas gave new directions to the company, in this case, talking about utility tokens, for central banking, creating intelligent contracts between ticket buyers and sellers.
It should note that by mid-May 2021, the central bank of Bahrain declared that Blockchain technology and the JPMorgan token would serve as a test. In addition to informing that they completed the said test, the companies or institutions that collaborated were the international banks based in Manama, Bank ABC, and the Bahrain National Aluminum Smelter.
It should note that Bahrain is the latest country to investigate blockchain technology by US investment bank JPMorgan, as the country’s central bank is experimenting with JPMorgan’s proprietary digital currency.
With the investment bank’s participation, they continue to promote their Blockchain technology for global use effectively; they also worked hand in hand by partnering with the central Singapore bank DBS to pilot a blockchain payment system.
The Central Bank of Bahrain has stated that the institution does dedicate to optimizing customer satisfaction through safe and efficient settlement services. In addition, the financial institution fulfilled a test of JPMorgan Chase’s JPM Coin to reach its goal. However, it emphasizes that this is the first time the US bank’s blockchain product has had difficulty in that part of the world.
Another super important fact is that JPMorgan’s ONYX subsidiary acquires the commitment to develop the next generation of futures with the clearing and settlement infrastructure.
The results obtained helped better understand the tests with Bank ABC and Alba would help communicate the future advancement of JMP digital currency methods for their banking partners.
JPMorgan offered its Blockchain technology, Link, to the State Bank of India in search of mitigating or reducing transaction costs and thus optimizing cross-border payments.
Who are JPMorgan and its Tokens?
JPMorgan is a global financial company that provides a wide range of banking services and investment banking, as well as access to markets (monetary, foreign exchange, fixed income, and capital) to different companies, governments, corporations finance companies, and individual clients worldwide.
Bittrex Global, without a doubt, is one of the most popular platforms in the world for trading cryptocurrencies. Its technology has made a difference, and it is about to become the first crypto exchange with crypto credit cards and to lead a JP Morgan Blockchain token, Kadena.
Kadena Token
It is a proposal specifically oriented towards the world of decentralized finance; we will inform a little about its technology and its roadmap during 2022 and do a brief technical analysis.
What exactly is this project starting from its founders? In this case, the founders created the first JPMorgan blockchain, and another was the technological leader of the first cryptography committee.
Kadena is a public blockchain that aims to optimize scalability and introduces a new innovative contract language called dapp that comes equipped with formal verification and updateable intelligent contracts.
Kadena aims to build a scalable, developer-friendly public blockchain that provides a level of security similar to that of Bitcoin.
Conclusion
We must recognize that one of the sectors with the most significant movement in the crypto world has been decentralized finance; around the year 2019, its growth speaks for itself. And for all this to be possible, technology must be provided, an infrastructure that allows it. In recent years we have seen many projects that will undoubtedly change our future.
More and more world banking organizations are deciding to test what the crypto world is like. For this reason, its main objective is to analyze the economic and social impact of the use of these digital currencies and their possible insertion in the traditional financial market.
It is no secret to anyone that technological advances are allowing the diversification of electronic products, which are increasingly positioning themselves among users.
Users seek to carry out operations quickly and safely, both of which are the keys for users to decide to use technology as financial support.
