September 18, 2019 by Victor
Deutsche Bank has joined the banking network Blockchainisé of JPMorgan, referred to as the Interbank Information Network (IIN).
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Deutsche Bank launches in the Blockchain
JPMorgan is conducting a pilot project using the Blockchain since 2017. Currently, the network consists of 320 banking institutions, according to a report in the Financial Times.
The IIN allows the exchange of information relating to cross-border payments on the Blockchain Ethereum. Takis Georgakopoulos, head of payments at JPMorgan, is hoping for a greater participation by international banks, thanks to the initiative of the Deutsche Bank – the largest compensatory payment in euros at the international level.
“The membership of the Deutsche Bank – and I hope that the German will be the first of a series of large banks – will help us to move towards ubiquity. The omnipresence is a prerequisite for the success of the network, ” said Georgakopoulos.
A decision of salvation for the Deutsche Bank
The German bank could reduce its costs of processing the backlog of customers and provide better customer service with the IIN. In fact, it has experienced financial difficulties this year, forcing it to lay off thousands of employees.
The network IINS is up to the challenge of sharing information related to banking transactions with unmatched speed.
Fed by great ambitions, JPMorgan would like to conclude 400 banking partnerships across the INSTITUTE and to start its pilot project of crypto-currencies JPM Corner before the end of 2019.
Jamie Dimon, the CEO of the world leader in financial services, has recently supported the project of stablecoin very controversial Facebook.
“The Libra is not a short-term threat to the traditional financial sector “, he said.
Indeed, Deutsche Bank will meet with the founder of the Libra with the other banks, members of the Committee on Payments and Market Infrastructure (CPMI) to discuss issues related to financial stability.
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