JPMorgan Chase & Co. Leverages the Blockchain
Xtrade.io published an article written by Daniel Viola, Partner and Head of our Regulatory Compliance and Digital Assets groups discussing JP Morgan’s adoption of Blockchain technology.
In the article, Mr. Viola states, "The new patent, entitled 'Systems and methods for management of asset or obligation-backed virtual receipts on a distributed system,' includes a new form of a public blockchain-based method for the management of virtual receipts, which can take the form of tokens. JPM’s new patent will allow investors to turn their assets on the stock market into tokens, or 'virtual receipts.' These virtual receipts can be traded and redeemed, much like an ICO token. The assets will also be treated as securities. The patent explicitly states that the tokens will exist on a 'blockchain-based distributed ledger.'"