JPMorgan tokenises gold bars using Quorum blockchain

JPMorgan tokenises gold bars using Quorum blockchain
JPMorgan financial holding intends to use its blockchain Quorum for tokenisation of gold bars, according to the Australian Financial Review. After the procedure is completed, they will correspond to electronic tokens instead of paper certificates accepted now.

The advantages of tokenisation are obvious. First, the ownership of the ingots and their transfer to another person will be reflected in the general register (in this case non-public). Entries cannot be changed without the appropriate authority. Secondly, the tokenised property can be relatively easily split. Thirdly, its shares can be traded without the participation of a third party.

The head of the JPMorgan blockchain-initiative Umar Farooq explains:
They wrap a gold bar ...
Read more about "JPMorgan tokenises gold bars using Quorum blockchain" on coinatory.com

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