How One Economic Principle Is Helping JPMorgan And Others Tap $3.1 Trillion In Blockchain Value
In October 2017, the largest bank in the United States, JPMorgan Chase, quietly revealed that a small network of competitors had been secretly testing a way to send payments to each other using blockchain, the technology first popularized by bitcoin. Emma Loftus, the bank’s head of global payments, said the blockchain platform, which promises to simplify the process of complying with global regulations by moving the transactions to a shared ledger, could reduce the time required using the current payment rails from “weeks to hours.”