THELOGICALINDIAN - JPMorgan executes free blockchain acquittal amid satellites in space
JPMorgan auspiciously activated a blockchain alteration amid satellites as a allotment of its Internet of Things (IoT) affairs for automatic payments.
JPMorgan Goes Galactic
The bank’s analysis and development aggregation is exploring the abstraction of alien amplitude payments with the advancing development of the Mars address program.
Tyrone Lobban, arch of JPMorgan’s blockchain barrage team, told the media:
“…thinking about what a amplitude payments arrangement would attending like over the continued term. But aboriginal we bare to prove it was alike accessible by testing some basal components”.
To analysis their design, the bunch coffer acclimated abreast busy satellites from GOMspace, Denmark.
The agreement was powered on JPMorgan’s blockchain initiative, Onyx. Umar Farooq, the CEO of Onyx, told Reuters, “The abstraction was to analyze IoT payments in a absolutely decentralized way. Nowhere is added decentralized and alone from the apple than space.”
JPMorgan has adherent cogent time to analyze blockchain technology.
The coffer additionally formed a cardinal accord with Ethereum-focused Consensys Labs, affairs their clandestine Quorum blockchain and acceptable a allotment of the Interbank Information Network (rebranded as Liink), congenital on Quorum as a customer.
Their additional endeavor Onyx, launched in October aftermost year, is council the bank’s efforts in decentralized payments and adjustment amid added banking institutions.
Onyx has advised the alteration of debt balance application broadcast balance technology and is additionally alive with the Monetary Authority of Singapore (MAS) for payments on a distinct network.
Disclosure: The columnist captivated Bitcoin at the time of press.
