JPMorgan has been trialing its blockchain payment network, named Interbank Information Network, since October 2017. The Interbank Information Network is a blockchain ledger shared across banks enabling them to quickly resolve issues such as compliance checks, wrong addresses or missing data — decreasing the time spent on settling payments. Current banks testing the Interbank Information Network include Royal Bank of Canada, ANZ, Société Générale, Santander, and JPMorgan. (Source: Financial Times)
About Author
Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin.
Follow Steven on Twitter at: @Dogetoshi
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