existForbesexist
We will take five financial giants as examples to explore how foreign traditional financial institutions embrace blockchain technology through their patent applications.
JPMorgan
secondary titleJPMorganThe sprawling U.S. banking institution has long
, enough to see its interest in blockchain technology.patent applicationIn May this year, the U.S. Securities and Exchange Commission (SEC) disclosed that JPMorgan Chase filed last Octoberpatent application. The documents show that JP Morgan is working on a
Payment system based on distributed ledger
Patent pending, the system will use blockchain technology to record transactions and store data.
The system is described in the patent application as follows:In a practical application case, the use of distributed ledgers to process network payments includes: 1. The payment initiator who initiates the payment instruction to the beneficiary; 2. The payment initiator bank issues and submits the payment instruction to the distributed ledger on the peer-to-peer network. 3. The payment beneficiary bank publishes on the peer-to-peer network and submits the payment instruction to the distributed ledger; 4. The payment initiator bank verifies and processes the payment through the internal system of the payment initiator bank and debits the initiator account.
jpmorgan said, cross-border payments often have to send large amounts of information between the banks and clearing houses responsible for processing the transaction. Slow transactions due to possible delays in the payment process by correspondent banks, messaging networks and clearing intermediaries. And the system allows real-time settlement to improve the existing system at a lower cost and faster.Shortly thereafter, the United States Patent and Trademark Office (USPTO) published JPMorgan’sanother patent application
,Right now
Asset or bond backed virtual receipt management system utilizing blockchain.
As mentioned in the patent application:
"Virtual receipts" are asset or liability-backed electronic tokens that provide investors, brokers, custodians, and clearing firms with a means to digitally link underlying assets or liabilities on a distributed Enables ownership tracking and transfer, transaction clearing and settlement, asset sourcing, distribution and securitization, and other such market processes that can be facilitated on a distributed system.Jamie DimonInterestingly, JPMorgan executives
He has publicly flaunted the "bitcoin scam" theory on several occasions, and stated that if anyone on his team traded bitcoin, he would fire him. Bitcoin investors are stupid and will pay the price someday.
secondary titleNational Bank of Dubai。
In March, National Bank of Dubai, one of the largest banking groups in the United Arab EmiratesThink of Blockchain Technology as a Means to Fight Check FraudCheque Chain）。
To enhance the authenticity of check issuance, the National Bank has partnered with Emirates NBD Group to develop a system. The system checks the checks using a unique QR code and stores the check records on the blockchain, also known as
"check chain" (Abdulla Qassen, the bank's CEO at the time, said, "Emirates NBD Group is committed to exploring the commercial use of this innovative technology. Following a successful pilot phase, the rollout of CheckChain to customers across the country began. It is the first bank in the region to offer this service." bank."Dubai has been active in adopting blockchain technology.President and Prime Minister of the United Arab Emirates, Ruler of Dubai S
, the goal is to make the UAE a world leader in the application of blockchain technology. He said:
By 2021, half of government transactions at the federal level will use blockchain technology. This technology will help us save time, energy, and resources, and most transactions can be realized instantly, and at the same time, it can be carried out in a way that conforms to the living and working habits of citizens.
secondary title
Bank of AmericaBank of America is emerging as one of the most aggressive banks when it comes to blockchain and digital currency innovation.In April this year,
Patent information published by the United States Patent and Trademark Office shows
, the company is attempting to patent a permissioned blockchain technology. The technology integrates existing data storage platforms into a single secure network, reducing the number of storage locations for specific user data while improving overall efficiency.
It will connect with multiple service providers, and individuals or businesses can securely store all records related to service providers on the blockchain and allow service providers to provide secure access to said records, but providers only Can access the specific records for which they are authorized.
As of January, Bank of America had applied for or been awarded at least 43 blockchain and cryptocurrency-related patents, putting it ahead of IBM and other payments firms in this regard.
secondary titleGoldman SachsMay,
Investment Banking Giant Goldman Sachs Announces It Will Start Trading Bitcoin Futures on behalf of Firm's Clients Using Internal Funding
Goldman Sachs executive Rana Yared explained that the project "resonates with clients" when they express a willingness to hold "bitcoin or bitcoin futures because bitcoin is an alternative store of value." This is an important step for the banking industry as customers trading futures is unprecedented in the current crypto world.
At the same time, Goldman Sachs hired cryptocurrency trader Justin Schmidt for the first time to head the digital assets department to help it guide clients' interest in bitcoin and other digital currency assets and increase clients' opportunities to invest in this area.
secondary titleCircle Invest 。
Circle Invest
Not long before Goldman Sachs traded Bitcoin futures, Circle, a payment finance company known as the "American version of Alipay", launched a digital investment platformThe app was advertised as "an app actually built around investing rather than trends" and was further promoted by the company as。
In February of this year,"Cheap and Simple Investing in Crypto and Digital Assets"Circle Announces Acquisition of Cryptocurrency Exchange Poloniex
. Poloniex was the first to offer Ethereum trading and the first exchange to break through $1 billion in daily trading volume. It can be seen that Circle's territory in the cryptocurrency field is gradually expanding.
secondary titleIn March, payment services giant American Express submitted apatent application。
blockchain payment system
patent application
The system will be used to build a payment platform between two trading entities, using the transaction request as a proxy. Specifically, it will be possible to reject or approve payment requests sent to a blockchain-based database, taking into account security verification including risk analysis.
The patent states that "a peer-to-peer based payment network can realize most of the functions of a traditional payment network, and can gradually realize other services and functions."ForbesIn addition, according to
ForbesCatherine Bessant According to the list of 50 listed large-scale companies with global deployment of blockchain technology, Industrial and Commercial Bank of China, BBVA, Mizuho Financial Group of Japan, and Sberbank of Russia all have positive attitudes towards blockchain technology.
Zeng said, "It is very important to obtain patent rights related to the blockchain, which can protect our position. Although we currently do not know what the commercial use case of the blockchain is."
(I am Yuan Huiteng, the author of Odaily. I am exploring the real blockchain. If you are looking for reports, please add WeChat zzl0312520. Please note your name, company, and title. For reprinting/content cooperation, please contact report@odaily.com.)
