Last week was no exception as J.P. Morgan, HSBC and Visa came forward announcing key blockchain developments. J.P. Morgan is using blockchain to optimize floorplan lending audits and to manage collateralThere is a lot happening at the large corporation J.P. Morgan, which has developed its own private blockchain called Quorum. For that purpose, they are launching a blockchain network that will consist of Original Equipment Manufacturers (OEMs), Chase Auto’s existing network of car dealerships, and internal banking departments. This blockchain network, combined with a vehicle telematics solution, will give complete visibility where the cars are at any given moment. Together with the maturity of the underlying blockchain technology, enterprises will move the scope of using blockchain from back-office to mid-office and front-office operations.

Source: Forbes December 02, 2019 15:45 UTC