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Home News Blockchain News

JP Morgan Perspectives – Blockchain and DLT on the rise

Gurpreet Thind by Gurpreet Thind
February 23, 2020
in Blockchain News
2 min read
JP Morgan Perspectives Blockchain and DLT on the rise
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JP Morgan Perspectives, the annual financial report from the financial giant, has claimed that blockchain is on the rise, but its mainstream adoption is still many years away. The report mentions the viability of cryptocurrencies in today’s financial environment and also their probable case uses, including the upcoming Facebook Libra project.

The blockchain use is steadily rising as more institutions, and financial bigwigs are exploring its use in their ecosystem. Still, it is far from being called mainstream. The report further sees that distributed ledger technology (DLT) will, in the future, transform the business models of traditional banks offering more efficient technologies, secure storage, and safe transactions. However, all of this progress depends on how the legal and regulatory hurdles are overcome, especially when it comes to cross-platform integration.

JP Morgan Perspectives – Widespread blockchain use still years away

JP Morgan Perspectives report mentions that widespread use of blockchain technology is still some years away. The technology will have to comply with the legal regulations of the host countries. The pace of advancement in cross-platform integration will help define how the decentralized realm progresses in the real world.

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The 74-page report acknowledges how the banks are implementing DLT solutions in everyday banking services. From collateral management to clearing and settlements, DLT is helping banks offer more value to their customers. At the same time, the cryptocurrency realm is maturing to offer real-world potential to investors and traders alike. Institutional crypto participation is also rising rapidly in both investment and trading terms.

Libra will unleash a new era of stablecoins

JP Moran Perspectives covers the upcoming Facebook Libra project extensively. The project, it says, has caught the world’s attention, including governments and central banks. The report highlights the Libra’s potential as a payment system and questions how the social network will achieve such a feat on a global scale. It says that stablecoins, such as Libra, can ensure financial systems penetrate developing nations positively and shoulder the global financial market.

Stablecoins do not have the microstructure to operate a complex payment mechanism effectively. They will encounter liquidity problems and also infrastructure issues in their journey forward. The JP Morgan Perspectives report acknowledges that private money is more than ready to take on the world, just like some fiat money today.

 

Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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