Crypto News | JPMorgan Blockchain Payments

Interbank blockchain payments are becoming more and more popular. Over the past few months, a large number of banks and financial institutions from all over the world partnered up with Ripple, which is the go-to platform for companies who want to experiment with blockchain payments, instant settlement, lower costs, and the like. However, it looks like JPMorgan blockchain will try to challenge it. It has recently been revealed that last October JPMorgan blockchain payments patent application was submitted with the U.S. Patent and Trademark Office, outlining a system based on distributed ledgers on a peer-to-peer network for recording payments sent between two banks. The patent application was published on Thursday, May 3, after which representatives from JPMorgan explained that they are looking to develop a one-of-a-kind system for storing data and recording transactions.

Meanwhile in Hong Kong, there was a lot of controversy regarding LBank.io, a cryptocurrency exchange which claimed on its website that it would be hosting the KODAKCoin token sale between May 4 and May 11, a claim which representatives from KODAKOne called a complete fraud. KODAKOne is the platform behind KODAKCoin, which will primarily focus on digital rights management. The public sale of KODAKCoin had previously been scheduled for January, but now the token is being rebranded as a utility token which will be sold to accredited investors.

You may remember that a week ago we talked about Telegram being banned in Russia and how the authorities tried to shut it down by blocking servers and taking down other websites. It seems like the story isn’t over yet. Other messaging apps may soon become the target of Russian government ire, primarily Viber. The Russian Federal Security Service (FSB) asked Viber to hand over its encryption keys. According to Viber’s CEO, Michael Shmilov, that is something the company cannot do, since the company does not have the users’ keys. He added that Viber has been willing to cooperate with law enforcement agencies in many countries in other ways.

And while Russia is bent on hampering progress, Singapore is doing exactly the opposite. Tangem, a cryptocurrency hardware wallet manufacturer, has announced that it will soon be releasing the first ‘Bitcoin banknotes’ in Singapore. The banknotes are in fact miniature hardware wallets with 0.01 and 0.05 BTC stored on them. The fact that they are very cheap to make (Tangem uses Samsung’s technology) means that people will be able to use them as real cash, so long as they actually catch on. The manufacturer referred to the banknotes as ‘Tangem Notes, saying that they significantly improve the safety and simplicity of acquiring, using, and circulating cryptos, for beginners and experienced users alike. Initially, the banknotes will be available for sale at the Suntec City branch of Megafash, a popular design store chain. Tangem unveiled plans to expand and mass-produce the banknotes by the year’s end.

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