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Security Tokens and Stablecoins Quick Start Guide

You're reading from  Security Tokens and Stablecoins Quick Start Guide

Product type Book
Published in Apr 2019
Publisher Packt
ISBN-13 9781838551063
Pages 234 pages
Edition 1st Edition
Languages
Concepts
Authors (3):
Weimin Sun Weimin Sun
Profile icon Weimin Sun
Xun (Brian) Wu Xun (Brian) Wu
Profile icon Xun (Brian) Wu
Angela Kwok Angela Kwok
Profile icon Angela Kwok
View More author details
Toc

JPM Coin

JP Morgan announces a stablecoin, JPM Coin, in the quorum blockchain platform on February 2019. JPM Coin is still not an official release; it is in its prototype stages. The aim of JPM Coin is to be able to run on all standard blockchain networks. The JPM Coin is designed to support USD and other currencies. It has a value ratio of 1:1 to USD.

Its payment flow is considered traditional and has at least four transactions across interbank networks through a central bank. This centralized design for a payment clearing system is inefficient and slow. JPM Coin provides real-time gross settlement (RTGS) to clear and settle payments.

There are three steps in the process flow:

  1. The client deposits USD and receives the same amount of JPM Coin
  2. The client uses JPM Coin to perform a transaction with another JPM client in the blockchain network (for example, money movement and payments...
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