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image: REUTERS/Amr Alfiky

JP Morgan Chase to patent blockchain-based interbank payments tech

May 4, 2018

JP Morgan Chase has filed an application to the US Patent and Trademark Office to patent an interbank payments system based on the distributed ledger technology (DLT).

The proposed system will record transactions using a peer-to-peer (P2P) network – creating “a unique system for recording transactions and storing data”, according to the bank. Another benefit is the ability to replicate that data using DLT across a public or private distribution network, it adds.

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