One of the largest banks in the world; As it is JP Morgan Chase is slowly making its way into the world of Blockchain technology. Now, news sources say, the giant bank, and ConsenSys, are discussing a merger.
JP Morgan is known for having a slightly particular view on Blockchain technology, and cryptocurrencies. Years ago, for the big bank these two technologies were simply a matter of fashion, and even a great scam.
But, little by little his vision has been changing. In unison; with the adoption of more banks to Blockchain technology; and even cryptocurrencies. Of course, it is necessary to make a special reference, is that the two technologies have also managed to separate in recent times. Many do not necessarily listen to «Blockchain» and think of «Bitcoin».
JP Morgan in Ethereum
According to sources very close to both projects, the JP Morgan department responsible for the adoption of Blockchain technology called «Quorum»; and the developers in Ethereum (ETH) of ConsenSys; They are very close to agreeing a commercial agreement.
According to the available data; JP Morgan currently has a team of 25 developers in the QUORUM team. The construction of the bank’s blockchain is based on the source code of the Ethereum Blockchain (ETH). To improve the performance of its Stablecoin crypto «JPM COIN» on Quorum; thus reducing the friction of instant payments.
That is why the union between these two companies; They may seem very different between them does not seem so far-fetched.
According to almost confirmed rumors; It is still not clear whether the Quorum team will join the ConsenSys team after the merger. In addition, it is very unlikely that this will be known in the short term; “The talks continue, and the financial details have not yet been discussed between the two.”
JP Morgan in the Blockchain holding
The trend is becoming more marked, between the union of companies; of all kinds; with signatures from the current world of fintech.
This merger would undoubtedly mark a new leap in the path towards mass adoption of the new disruptive technologies.
On the other hand; The JP Morgan Blockchain team is currently running the Interbank Information Network (IIN). This is a payment network that involves more than 300 banks worldwide 🌎.
Therefore, the merger of these two firms could prove extremely beneficial for all current solutions of the largest bank in the United States 🇺🇸. “It could be giant news for both ecosystems.”
Economics student of the UCV. Defender of individual freedoms and of course also of the market and cryptocurrencies.