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‘Distributed ledger technology solves more problems than linear networks’, claims JPMorgan official

Akash Anand

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'Distributed ledger technology solves more problems than linear networks', claims JPMorgan official at IMF Springs
Source: Pixabay

The integration of the cryptocurrency market with the mainstream financial market has been a priority ‘numero uno’ for luminaries in the world of digital assets. The goal has been slowly getting traction as many mainstream institutions are partnering with cryptocurrency companies or they themselves are creating their own set of tokens and distributed ledger technologies.

In the latest International Monetary Fund [IMF] Springs Meeting held in Washington DC, officials from various organizations such as JPMorgan and M-Pesa spoke about the effects of DLT and the changing landscape of the financial market in a panel moderated by IMF Chief Christine Lagarde.

The official from JPMorgan stated that the organization’s entry into the field was to provide useful solutions for customers and that a little bit of competition in the field, if beneficial to the users, is always welcome. She added:



“The United States is a mature market but is still less mature when you compare it to markets like China. They have a very mature infrastructure at the point of sale and calculations show that almost 72 percent of the transactions is represented by debit cards or credit cards.”

The JPMorgan official admitted that the focus is still to make it a Peer to Peer network but with the security of a banking structure. She also revealed that distributed ledger technology is great to bolster the KYC-AML [Know Your Customer-Anti Money Laundering] process. According to her:

“The DLT is great to filter bad actors in the banking system. It is a much better process when compared to the earlier ways of making phones calls and confirming with other banks and entities.”

Christine Lagarde further asked the JPMorgan official if the ledger stores the history of transactions, to which she replied that they don’t as it is a collaborative effort involving over 200 banks. The banking giant also claimed that they don’t charge other banks for accessing their ledger.





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Basic Attention Token surges by over 6% as Ad Launch nears

Namrata Shukla

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Baisc Attention Token surged by over 6% over ads launch hype
Source: Pixabay

The cryptocurrency market appears to be bleeding, however, few altcoins have reported small surges over the past few days, like Basic Attention Token [BAT].

The coin, on April 18 when the entire market was mostly red, surged by over 10% and was trading at $0.3618, its all-time high since July 2018. On April 20, BAT reported a growth of over 6% and was valued at $0.3947, breaking its immediate resistance.

Source: CoinMarketCap

Source: CoinMarketCap

BAT reported a market cap of $493 million and a 24-hour trading volume of $57 million. The coin noted a 6.47% rise in its price over the past day and reported a seven-day surge of 31.20%. BAT continued to register a growth of 1.18% over the past hour.



Crypto-enthusiasts speculate the reason for the surge in prices to be the launch of advertisements on the Brave Browser this month. The BAT token is essentially based on entertainment and can be obtained through a variety of advertising and attention-based services on its platform. According to Twitter user @CryptoNilla,

“They are about to launch ads this month hence the pump.”

BAT was highly traded on ZB.COM exchange as it noted a volume of $8 million via the BAT/USDT pair. The second place was taken by Binance, the largest cryptocurrency exchange as it reported a trading volume of $7 million via the BAT/BTC pair. IDCM was on the third place with $6 million in volume via the BTA/BTC pair.





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