JPMorgan Chase’s Onyx is taking giant strides in the field of blockchain technology with an eye on industrializing blockchain proofs-of-concept (PoC). Onyx’s primary focus is to revolutionize the payment infrastructure where blockchain technology can play a substantial role, reducing friction in global payments and trade.
Onyx comprises several blockchain-related initiatives such as Liink, a peer-to-peer network with 400+ banks, corporations and fintech firms that aims to streamline and automate the validation process; JPM Coin, a digital currency designed to enable instantaneous payment transfers and simplify the payment process; and a decentralised identity tool, which verifies data from multiple parties.
Their latest project aims at assisting in the Industrial Internet of Things (IIoT) and involves embedding business instructions into IoT devices, using the blockchain network to securely verify and automate transactions. With these initiatives, Onyx aims to push for greater implementation of blockchain technology across a range of industries.
Wall Street Giants, JPMorgan’s Onyx Eye Industrializing Blockchain PoCs
JPMorgan Chase’s Onyx is taking giant strides in the field of blockchain technology with an eye on industrializing blockchain proofs-of-concept (PoC). Onyx’s primary focus is to revolutionize the payment infrastructure where blockchain technology can play a substantial role, reducing friction in global payments and trade.
Onyx comprises several blockchain-related initiatives such as Liink, a peer-to-peer network with 400+ banks, corporations and fintech firms that aims to streamline and automate the validation process; JPM Coin, a digital currency designed to enable instantaneous payment transfers and simplify the payment process; and a decentralised identity tool, which verifies data from multiple parties.
Their latest project aims at assisting in the Industrial Internet of Things (IIoT) and involves embedding business instructions into IoT devices, using the blockchain network to securely verify and automate transactions. With these initiatives, Onyx aims to push for greater implementation of blockchain technology across a range of industries.
