One of the largest American financial holdings JPMorgan Chase & Co intends to patent a new blockchain-system of virtual payment cheque management, backed by real assets or bonds. The application is published on the website of the U.S. patent and trademark Office. The patent application is called “Virtual cheque management systems and methods supported by assets or bonds in a distributed system”. It describes a new form of a method based on the public blockchain that manages virtual receipts. Such checks can take the form of tokens. The document describes virtual depositary receipts or “virtual cheques” as “electronic tokens backed by assets or bonds”. With the help of the distributed ledger technology, real assets or bonds will be linked to “their virtual representation in a distributed system for the purpose of tracking the ownership or movement of assets”. Earlier it was reported that JPMorgan had started to study the cryptocurrency sector. |
