JP Morgan is one of the biggest names in the financial sector. One of the stalwarts who has always considered innovation as a crucial cog to their success. Continuing this trend to innovate to provide better and more deliverable products, they are not turning to Blockchain technology. Recently they have patented a technology-based which states that they would be creating a new blockchain application. Through this Bitcoin Revolution like patented application, they are planning to use the IPOs in the same manner as they are currently using their ICOs.
Initial Public Offering (IPO) is an event in which a company starts selling its stock to the normal public. The new application from JP Morgan and Chase will make sure that the investors can turn their assets from the stock market into tokens or virtual receipts. These tokens can then be traded or redeemed in a similar manner to ICO. These assets will also be considered as securities and can be used for various purposes just like ICO. This patent will state that the token will exist on the blockchain based distributed ledger which is certainly a Bitcoin Revolution of sorts.
There are many applications which are presently under JP Morgan and Chase’s name and with all these technologies they can really change the way we trade in the market. Having said that the new application is just a patent and it may happen that the plan might never get executed. There have been many companies in the past who have created a patent but were not able to reach to the full drawn conclusion. As per the report published in Unhashed, this patent has arrived just when Malta Stock Exchange has planned to announce a similar plan which would also tokenize securities and equity in the blockchain. It would be very interesting to see the future of this application from JP Morgan, but in terms of technology is certainly a Bitcoin Revolution which has excited many investors around the world.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]