Unbankd: JP Morgan to Tokenize its Gold Bars on its Own Blockchain
JP Morgan has unveiled plans to tokenize gold bars on its blockchain Quorum. The bank is turning to blockchain to reduce the friction involved in commodities trading.
The tokenization of a commodity like gold reduces the costs and risks for traders. It also permits two parties to complete a transaction without the need of a third party, such as a broker. Quorum even allows people outside of JP Morgan to tokenize their gold.
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