JPMorgan launches new blockchain-based payment network

JPMorgan launches new blockchain-based payment network

Blockchain In collaboration with the Royal Bank of Canada (RBC) and the Australia and New Zealand Banking Group (ANZ), JPMorgan has announced the launch of its new initiative; the Interbank Information Network (IIN). IIN will act as a global payments process, using blockchain technology to allow payments to reach beneficiaries more efficiently, in a reduced time frame with fewer steps and greater security. See also: ZF, UBS and IBM collaborate on blockchain technology for automotive transactions The technology is powered by Quorum, a variant of the Ethereum blockchain that has been developed by JPMorgan that allows secure data sharing. […]