J.P. Morgan Files Patent for Blockchain-Powered Payments – J.P.摩根为BigStand动力支付申请专利

J.P. Morgan Files Patent for Blockchain-Powered Payments - J.P.摩根为BigStand动力支付申请专利

Jamie Dimon
Getty Images

WPA6021602IMG Jamie Dimon Getty图像


Polina Marinova

May 4, 2018


Here we go. J.P. Morgan Chase has applied for a patent to facilitate payments between banks using the blockchain.

The patent was originally submitted in October, but the application was made public by the U.S. Patent and Trademark Office on Thursday. It outlines a system that would essentially use distributed ledger technology, such as blockchain, to keep track of payments sent between financial institutions.

In the application, J.P. Morgan notes that cross-border payments require “a number of messages” that must be sent between the bank and clearing houses involved in the transaction. This often results in delays and a restricted availability to the funds. Rather, the transaction on the blockchain would eliminate high costs, provide a system for accurately logging the transactions, and process payments in real time with a verifiably true audit trail.

This may come as a surprise given J.P. Morgan CEO Jamie Dimon’s tirade about Bitcoin several months ago, suggesting the cryptocurrency is “a fraud” and that he would fire any employee trading Bitcoin for being “stupid.”

But Dimon was careful to distinguish between cryptocurrencies and the blockchain because, well, J.P. Morgan has actually built its own blockchain on top of Ethereum. The bank is also one of 86 corporate firms to play a role in forming The Enterprise Ethereum Alliance, an open-source blockchain initiative. The idea of the EEA is for big banks and tech companies to come together and build business-ready versions of the software behind Ethereum, a decentralized computing network based on digital currency.

The patent filed in October is reminiscent of another Bitcoin-style payment system J.P. Morgan tried to patent in 2013. Although the patent was reportedly rejected, it’s fascinating to see the bank lay out some of the problems with the existing payment structure. For instance, “Furthermore, to date, there is no efficient way for consumers to make payments to other consumers using the Internet. All traditional forms of person-to-person exchange include the physical exchange of cash or checks rather than a real-time digital exchange of value. In addition, the high cost of retail wire transfers (i.e., Western Union) is cost prohibitive to a significant portion of society.

Let’s see what happens the second time around.

我们走吧。摩根大通申请了一项专利,以便利银行使用Band Stand支付款项。该专利最初于十月提交,但该申请于星期四由美国专利商标局公开。它概述了一个系统,该系统将基本上使用分布式分类帐技术,如BuffStand,跟踪金融机构之间发送的款项。在申请中,J.P.摩根指出,跨境支付要求WAPP60300 4QTEA号必须在银行和清算所之间发送。这常常导致延迟和资金的有限可用性。相反,块链上的事务将消除高成本,提供一种精确记录事务的系统,并以可验证的真实审计轨迹实时处理支付。这可能会让JP摩根首席执行官杰米在几个月前对比特币的激烈抨击感到惊讶,这表明密码是“骗局”,他会解雇任何交易比特币的员工,因为他们是愚蠢的。,但戴蒙谨慎地区分隐尿症和阻断链,因为,J.P.摩根实际上已经在EthUM上建立了自己的链链。该银行也是86家公司之一,在组建企业EthuMULY联盟(一个开源的B股链计划)中发挥作用。EEEA的想法是,大型银行和科技公司聚集在一起,建立EthUM背后的软件现成版本,这是一个基于数字货币的分散计算网络。十月提交的专利让人联想到JP摩根试图在2013实现专利的另一种比特币式支付系统。尽管据报道该专利被否决,但它还是很有趣的,它看到了现有支付结构中存在的一些问题。例如,“此外,到目前为止,还没有有效的方式让消费者使用互联网支付给其他消费者。”所有传统的人与人交换形式包括现金或支票的实物交换,而不是价值的实时数字交换。此外,零售电汇(即,西部联盟)的高成本对社会的重要部分来说是成本高昂的。“LeWPPA60607QTES看到第二次发生什么。


J.P. Morgan Files Patent for Blockchain-Powered Payments - J.P.摩根为BigStand动力支付申请专利

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