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.”
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- 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.