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#CryptoCorner: JPMorgan (NYSE: $JPM) Files Patent for Blockchain Auto Inventory Solution, Mining Manufacturer Canaan Listed on Nasdaq (NasdaqGM: $CAN)

 

Point Roberts, WA and Delta, BC - November 25, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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#CryptoCorner: JPMorgan (NYSE: $JPM) Files Patent for Blockchain Auto Inventory Solution, Mining Manufacturer Canaan Listed on Nasdaq (NasdaqGM: $CAN)

November 25, 2019

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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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