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JPMorgan Chase: Public blockchain ledgers are not suitable for large transactions
At the BIS Innovation Summit on May 7, Umar Farooq, CEO of JPMorgan's Onyx blockchain payment platform, said that the public blockchain ledger is not suitable for today's large transactions. Still, the JPMorgan Bank-dominated Onyx platform is built as a private, permissioned version of Ethereum, the world's second-largest public blockchain network. Unlike public blockchains, Onyx's permissioned chain enables institutions to reverse transactions. In addition, JPMorgan's Farooq believes that...
2024-05-08 14:52:28
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