JP Morgan Identifies Three Firms Whose Stock May Benefit From Blockchain

Investment bank J.P. Morgan Chase has called three firms whose stock could benefit from their deployments of both all blockchain technology.
Investment bank and financial services firm J.P. Morgan Chase has recognized three people whose stock it considers will benefit from their applications of blockchain technology, CNBC reported Nov. 8. As Cointelegraph reported yesterday, some businesses have begun to drop using the word “blockchain,” since they believe the word is overhyped and also frequently used as a marketing ploy.However, J.P. Morgan outlined three firms which will purportedly create “substance incremental growth opportunities” from the technology.Per J.P. Morgan, those beneficiaries are American content delivery system and cloud support provider Akamai Technologies Inc., San Francisco-based technology and digital trade management services firm DocuSign, along with cloud-based platform provider for the mortgage financing sector Ellie Mae.J.P. Morgan urged that investors “should be seeking to identify where the chance to replace a middleman is the biggest, or where trust is needed where none exists, or that which firms are the best placed to provide blockchain as a service (BaaS). ”Software equity research analyst in J.P. Morgan Sterling Auty explained how every firm match J.P.  Morgan’s criteria. Auty reportedly stated that Akamai could power its business through BaaS as many customers would rather utilize blockchain as a service than create the technologies from scratch.DocuSign can reportedly connect a blockchain community to its systems. Specifically, DocuSign intends to digitize the entire contracting process onto its own stage. “During the years we could observe a lot of the platform being based on blockchain, basically altering its centralized security model for the spread version of blockchain,” Auty said.Regarding the third firm, Ellie Mae, J.P. Morgan stated that real estate is the most “evident ” utilize situation for blockchain. Auty allegedly remarked:“Using blockchain to control the entire mortgage process may bring trust among parties and utilization of intelligent contracts may help automate different tasks (review, income/employment confirmation. ”In October, a report on J.P. Morgan’s digital transformation initiatives revealed that blockchain is a key technology for its lender ’s roadmap. The research covered the company ’s digital transformation roadmap, with blockchain listed as the primary in a range of cutting-edge technologies which are being chased by the bank — such as big information, cloud, AI, and robotics. […]

Leave a comment