Connect with us

News

JPMorgan is hiring for more blockchain-related positions than any other financial firm, claims report

Akash Anand

Published

on

JPMorgan is hiring for more blockchain-related positions than any other financial firm, claims report
Source: Pixabay

The mass adoption of cryptocurrencies and blockchain technology was made evident to the public when mainstream institutions ventured into the space and started using it to rebuild their financial structure. JPMorgan, the largest bank in the United States created headlines recently with the launch of its own cryptocurrency, JPM Coin.

Latest reports showed that the bank was hiring for more blockchain jobs than any other firm on Wall Street firm. Sources have also stated that JPMorgan was the only financial firm in the top ten companies posting jobs with the keywords such as ‘blockchain’, ‘cryptocurrency’, or ‘Bitcoin’ since 2018.

Job portal websites have stated that there was a 4,086% increase in the number of job postings related to cryptocurrencies and blockchain technology since 2016. The same report also showed that there was a 553% increase in job searches since 2016.



In an overall spectrum, the only companies to hire for more blockchain-related jobs than JPMorgan were Accenture, KPMG, EY, IBM, Cisco, and Deloitte. Out of the top companies, Deloitte came out on top in terms of blockchain-related jobs. Andrew Flowers, the economist at Indeed.com, a popular job portal, stated:

“It’s notable that there’s a lack of financial and banking companies hiring for something that’s made to replace money.”

JP Morgan was in the news recently when the World Bank said that the bank, along with Ripple, SWIFT, and Circle, was developing innovative cross-border payment solutions. The World Bank released a blog that talked about the remittance market and how companies such as Ripple and JPMorgan were using Distributed Ledger Technology [DLT] to reduce the cost of cross-border transactions to make it more efficient. The blog further added:

“In 2018, Ripple, a FinTech company, piloted xRapid, a DLT-based cross-border payments solution, along the very competitive U.S.-Mexico corridor. Financial institutions involved in the pilot saved 40%-70% in foreign exchange costs, and the average payment times was just over two minutes. The transfer of funds on xRapid took two to three seconds, with most of the processing time explained by domestic payment rails and intermediary digital asset exchanges.”





Subscribe to AMBCrypto’s Newsletter


News

Binance sees ‘higher number of orders’ than peak Bitcoin frenzy of 2017; hints at iOS app for Binance

Avatar

Published

on

Binance exchange is seeing 'higher order number of orders' than peak Bitcoin frenzy of 2017; suggests iOS app for Binance
Source: Unsplash

Binance exchange, the world’s largest cryptocurrency exchange by trading volume, was reported to have problems with a couple of users since there was too much load on the exchange, especially with Web, PC, APP.

CZ tweeted:

He also added that there was much “Higher load” than 2017 when Bitcoin reached its all-time high since inception. Moreover, CZ also said that the APIs for the exchange were working fine and that the team was working on fixing the other issues.

In addition, CZ clarified his tweet about “higher load” as he tweeted:

However, at press time, Binance was the second largest exchange in the whole of crypto space, according to CoinMarketCap, with an adjusted 24-hour trading volume of $2.3 billion. Moreover, as per CMC, the 24-hour change in the trading volume for Binance decreased by 25.78%.

Moreover, Coingecko platform reported that Binance was the largest in terms of the trading volume; it had a normalized 24-hour trading volume of $1.36 billion and $2.38 billion adjusted trading volume.

Although the exchange was hacked a few weeks ago costing it 7000 BTC [now worth $55 million] the exchange, according to CZ, has been performing well enough.



A Twitter user @Khaleed_kareem0, commented:

“Sir, You need bigger servers for this heavy traffic like FB and google, also need to avail the app officially on the App store and update the IOS version All the support for U @binance”

CZ replied to him hinting that they were working with Apple to release an iOS version of the app.

“working with Apple on that one. crypto apps are tricky, it seems.”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending