a.i & blockchain

jpmorgan creates a blockchain-based payment mechanism for siemens

Siemens and jpmorgan chase have partnered up to develop a ground-breaking payment system that will be used worldwide. with the help of digital ledger technology, transactions may be recorded and validated. the only currency that can now be moved is the united states dollar, although this is expected to change in the coming year. there was no indication of how many payments had been made up to this point. direct debits and standing orders will continue to be available, but the new technology will allow banks to program payments as well. hsbc and wells fargo announced last week that they had reached an agreement to settle currency transactions directly on blockchain.

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