11/12/19 05:00 UTC-5

More than 80 banks in Japan will join the JPMorgan payment blockchain network

More than 80 Japanese banks have expressed interest in joining the payment information network based on the JPMorgan Chase blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
, the Interbank Information Network (IIN).


Banks of Japan join JPMorgan

Daizaburo Sanai, chief executive of JPMorgan, told Bloomberg in an interview published on Tuesday that more than 80 banks are joining JPMorgan. This number is the highest among all countries in the network, which currently has more than 360 banks worldwide.

Sanai said the IIN could help Japanese banks deal with money laundering risks as the network makes verification “faster and more efficient.”

Interesting in the section: An energy company in Japan uses blockchain to improve performance

  • JPMorgan first launched its IIN network in 2017, which allows member banks to exchange information related to international payments on their own JPMorgan Quorum blockchain platform.

See also: "An energy company in Japan uses blockchain to improve performance"

#bank #Japan #blockchain #JPMorgan

Editor: Yuliya Soroka