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JPMorgan Applies for Blockchain-Payment Patent

Shobhit Seth

Large institutional financial organizations are continuously exploring and embracing blockchain technology. Details of a patent  filing by JPMorgan Chase & Co. ( JPM) was published by the U.S. Patents and Trademark Office on Thursday, which was originally filed by the bank in October of last year and lists how the leading investment bank plans to utilize the distributed-ledger-based system. It plans to use the system to record payments sent from one bank to another using a peer-to-peer network.