Editor’s Commentary: The article below generated from corporate media reports paints the developments within banking blockchain as a positive. To those of us who are concerned about the rapid rise of Central Bank Digital Currencies, this is a very bad omen. It means private financial giants like JPMorgan Chase and BlackRock are advancing the technology while central banks establish the necessary relationships. It’s like watching an evil financial railroad being built before our eyes with financial giants building the trains and central banks laying the track. Keep that in mind as you read this story…
JPMorgan, the largest investment bank in the U.S., is actively promoting the use of blockchain technology for payments as its digital token, JPM Coin, successfully processes $1 billion worth of transactions daily.
-
The Importance of Prayer: How a Christian Gold Company Stands Out by Defending Americans’ Retirement
In an interview with Bloomberg Television, Takis Georgakopoulos, the global head of payments at JPMorgan, revealed the updated performance of JPM Coin and expressed the bank’s commitment to expanding its usage.
While predominantly transacted in US dollars, JPM Coin is set to widen its reach with plans for continued expansion, according to Georgakopoulos.
Over the past year, JPMorgan has gradually increased access and use of JPM Coin. In June, the token facilitated around $300 billion in transactions since its launch, although it still falls short of the bank’s daily payment volume of nearly $10 trillion.
JPM Coin’s functionality expanded in June with the introduction of euro-denominated payments for corporate clients. Germany’s Siemens AG made the first euro payment on the platform, enabling wholesale clients to conduct dollar and euro-denominated transactions via a private blockchain network.
As one of the few live blockchain applications by a major bank, JPM Coin offers the advantage of 24/7 operation, removing limitations imposed by traditional transaction hours. This significantly reduces processing time, facilitating quicker execution of client transactions.
In September, insiders revealed that JPMorgan is exploring the creation of a blockchain-based digital deposit token to expedite cross-border payments and settlements. The bank has already developed most of the underlying infrastructure pending final approval from U.S. regulators. Upon receiving approval, JPMorgan anticipates launching the token for corporate clients within a year.
When questioned about the digital deposit token, Georgakopoulos expressed the intention to develop a retail version, extending the efficiency gains to consumers.
JPMorgan also introduced the Tokenized Collateral Network (TCN) in October. This in-house blockchain-based tokenization application allows investors to utilize assets as collateral and transfer collateral ownership without physically moving the underlying assets.
The TCN was utilized by BlackRock to tokenize shares of one of its money market funds, which were then transferred to Barclays as collateral for an over-the-counter derivatives trade between the two institutions.
According to Tyrone Lobban, head of Onyx Digital Assets at JPMorgan, the TCN enables instant collateral transfers. When operating at scale, the technology will enhance efficiency by releasing locked capital for use as collateral in ongoing transactions.
JPMorgan aims to further expand the TCN’s capabilities to accommodate additional assets such as equities and fixed income, allowing institutions on the network to meet various collateral requirements.
Tom McGrath, deputy global chief operating officer of the cash management group at BlackRock, praised the tokenization of money market fund shares as collateral, highlighting its potential to streamline margin calls during market volatility.
By leveraging the Onyx Digital Assets blockchain network, JPMorgan seeks to provide clients with a wide range of assets for collateralization to meet their specific trading requirements.
Controlling Protein Is One of the Globalists’ Primary Goals
Between the globalists, corporate interests, and our own government, the food supply is being targeted from multiple angles. It isn’t just silly regulations and misguided subsidies driving natural foods away. Bird flu, sabotaged food processing plants, mysterious deaths of entire cattle herds, arson attacks, and an incessant push to make climate change the primary consideration for all things are combining for a perfect storm to exacerbate the ongoing food crisis.
The primary target is protein. Specifically, they’re going after beef as the environmental boogeyman. They want us eating vegetable-based proteins, lab-grown meat, or even bugs instead of anything that walked the pastures of America. This is why we launched a long-term storage prepper beef company that provides high-quality food that’s shelf-stable for up to 25-years.
At Prepper All-Naturals, we believe Americans should be eating real food today and into the future regardless of what the powers-that-be demand of us. We will never use lab-grown beef. We will never allow our cattle to be injected with mRNA vaccines. We will never bow to the draconian diktats of the climate change cult.
Visit Prepper All-Naturals and use promo code “veterans25” to get 25% off plus free shipping on Ribeye, NY Strip, Tenderloin, and other high-quality cuts of beef. It’s cooked sous vide, then freeze dried and packaged with no other ingredients, just beef. Stock up for the long haul today.
