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JPM Develops New Privacy-Enhancing Tool for Payment Mechanisms on ETH Blockchain

May 28, 2019👎Bearish

JPMorgan Chase (JPM) - the United States' largest bank - is reportedly poised to release an open-source extension that enhances the privacy of payment mechanisms on Ethereum-based blockchains.

The new tool has reportedly been designed as an extension to the Zether protocol.As reported, Zether is a privacy-focused payment mechanism that is compatible with Ethereum and other smart contract platforms.

JPM reportedly plans to release its extension as an open-source today, and will implement the tool on Quorum, the bank's private blockchain platform built on the Ethereum protocol.

Beyond its Quorum innovations, the banking giant has been in the industry limelight for its recently unveiled blockchain-powered stablecoin dubbed JPMCoin.

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