JP Morgan’s Blockchain Platform Will Promote Commodities’ tokenization

JP Morgan’s Ethereum-based enterprise blockchain platform Quorum will create new opportunities for global traders since it will help tokenize various assets including gold bar, precious metals, real estate and art, JP Morgan’s blockchain business leader Umar Farooq told the Australian Financial Review. Farooq gave an example of gold. He said people outside JP Morgan are using Quorum to turn gold into “a tamper-proof case electronically tagged”, so that they can track gold bars from mining to the end point. According to the Australian Financial Review, Quorum could be split off JP Morgan and be considered being used for capital markets issuance, secondary markets and custody.”The entire value chain is going to head in that direction,” said Farooq.

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