J.P. Morgan has announced the launch of America’s first digital coin, dubbed as JPM Coin, that represents the U.S. Dollar. The firm has disclosed its plans to extend the virtual coin to other currencies in the coming days. Built on Quorum, an enterprise grade Ethereum blockchain, JPM Coin allows users enjoy instantaneous transfer of payments between institutional accounts, along with ensuring confidentiality and security from potential frauds.
Ethereum finally got the ‘seal of approval’ from JP Morgan executives when the ETH foundation reaffirmed its plan to further develop an enterprise version of Ethereum – Quorum ecosystem. The ecosystem has been designed to aid any application that demands high computing and processing power to execute the tasks on daily basis.