JPM Coin Stimulates Peer-to-Peer Collaboration to Influence the World

JPM Coin, the cryptocurrency of investment bank of JPMorgan Chase, caused heated discussions in the market. Ken Lo, a founding member of ZhongAn International, said at the HashKey International Digital Asset 2019 that JPM Coin could stimulate more discussions in the financial industry and influence the global network.

JPM Coin is still testing and will use blockchain technology to conduct cross-border settlements for large global customers with daily transactions of more than $6 trillion. Lo pointed out that in addition to improving the efficiency of internal operations, another important point is to promote more discussions among peers. How they construct a global payment system with research institutes has far-reaching significance.

At the same time, Hong Kong, as a financial and talent center, looks forward to JPM Coin being able to use it at local banks and wants to know how regulators regulate it. After mentioning the trade linkage (eTradeConnect) platform promoted by the HKMA, he hopes that more applications will emerge at the level of trade finance and cryptocurrency.

Cat Rüst, head of technology innovation at UBS Wealth Management Greater China, also pointed out that the practical application of the blockchain segment is happening unconsciously, and the industry has a huge demand for this. However, there is still a distance between the blockchain and the popularity of financial institutions. She also mentioned some development projects, although the market will never be launched, the proof of concept can effectively improve the learning curve to help develop better products.