#CryptoCorner: JPMorgan (NYSE: $JPM) Files Patent for Blockchain Auto Inventory Solution, Mining Manufacturer Canaan Listed on Nasdaq (NasdaqGM: $CAN)
#CryptoCorner: JPMorgan
(NYSE: $JPM) Files Patent for Blockchain Auto Inventory Solution, Mining
Manufacturer Canaan Listed on Nasdaq (NasdaqGM: $CAN)
Point Roberts, WA, Delta BC November 25,
2019 - Investorideas.com, a leader in
crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on
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Stocks discussed: (NYSE:JPM) (NasdaqGM:CAN)
JPMorgan (NYSE:JPM) has filed a
patent through its car financing arm for blockchain-based version of floor plan
lending to track auto dealer inventory, according to a report from CoinDesk. The bank aims to
input vehicle identification numbers (VINs) onto a dedicated blockchain to
reduce inefficiencies associated with traditional inventory tracking. Kevin
Point, head of research and development at Chase Auto, commented:
“Because of the unique identifiers, telematics, the
auto industry and its counterparties are a great way to get adoption out there
quickly and that will drive efficiencies into different areas of finance.”
Bitcoin (BTC) mining hardware
manufacturing giant Canaan Inc. has been publicly
listed
on the Nasdaq under the ticker symbol “CAN”. Jessica Yang,
executive vice president of licensed global digital asset exchange Bitmart, who
attended the NASDAQ bell ringing ceremony, commented:
“The listing of Canaan is a benchmark in the blockchain
industry. With the official listing on the NASDAQ, the secondary market is full
of confidence in the valuation of Canaan. So far, Canaan has made significant
progress in business, the market is very active in the subscription of Canaan
stock.”
Denis Beau, the
first deputy governor of France’s central bank, spoke at the AFME Annual
Capital Markets Technology and Innovation Conference, where he advocated the leveraging of
blockchain-based solutions to streamline finance. An excerpt from his speech reads:
“The tokenisation of financial assets combined with the
recourse to blockchain-based solutions and more broadly Distributed Ledger
Technologies to store and transfer those assets could help answering market’s
demands. At the same time, they could help remedy the current limits of the
existing wholesale market infrastructures by exploring new avenues. The
implementation of those innovations could have an important impact on the
financial industry in particular to facilitate gross and simultaneous
Delivery-versus-Payment processes, cross-currency settlement, resilience, and
recovery from operational incidents.”
The Bangkok
Post
reports that Thailand’s Securities and Exchange Commission (SEC) intends to
change its stance on digital asset businesses in 2020 to promote
competitiveness in the space while maintaining security. Ruenvadee
Suwanmongkol, secretary-general of the SEC, said:
"The regulator must be flexible to apply the rules
and regulations in line with the market environment. For example, laws should
not be outdated and should serve market needs, especially for new digital asset
products, and be competitive with the global market. We need to explore any
possible obstacles."
Sam
Mowers, Investorideas
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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