In this blog, we curate relevant and remarkable content related to blockchain, cryptocurrency and the digital economy. This remarkable piece by Joanna Ossinger published on Bloomberg reports that blockchain is making progress outside crypto according to JPMorgan. Read on.
“It may take a few years for blockchain’s impact to be felt meaningfully, but it will provide some advancements in certain areas even as cryptocurrencies falter, according to JPMorgan Chase & Co.
“Blockchain isn’t going to reinvent the global payment system, but it will provide marginal improvements,” JPMorgan’s chair of global research, Joyce Chang, said in an interview on Monday. “The most meaningful impact will probably be three to five years away and mostly on trade finance.”
Trade-finance blockchain solutions are more common than some others because of high potential gains in efficiency from digitalization, according to a Jan. 24 report from JPMorgan analysts and strategists led by Chang. While cryptocurrencies have attracted the most attention, it’s the underlying technology used for verifying and recording transactions that matters, she said.”