JPMorgans Trial Puts Debt Issuance on a Blockchain

Gold-Blockchain is a Solution while Bitcoin is Not

Gold-Blockchain is a Solution while Bitcoin is Not

Our fiat money could never work for long. The gold monetary system of past did not fail by fundamental design. Central bankers first perverted it with paper notes and leveraged markets. Finally, in 1971, government abandoned it due to their own overspending. The resulting fiat we have today will fail by design, it never had a chance. Money cannot be baseless and printed into infinity. Having a central authority issue money at will results in corruption, class...
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Ancient and Early Modern History of Gold

Ancient and Early Modern History of Gold

Admiration of gold predates history. The earliest known history of gold is a golden treasure dating back to 4600 BC. One of the earliest known Egyptian maps, the Turin Papyrus Map, shows detailed plans for a gold mine. The Aztecs regarded gold as the product of the gods, calling it literally “gods excrement”. Civilizations from every corner of the world clearly made great connections with their Gods and Gold. Today the world is full of gold...
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Top 10 Gold Misconceptions & Propaganda on the Internet

Top 10 Gold Misconceptions & Propaganda on the Internet

There are many gold misconceptions distributed about. The propaganda is meant to keep us from buying gold. The Federal Reserve is a private institution representing the interests of 12 US banks. The Fed's foremost agenda is to defend their banking system. Secondarily it represents broad economic interests as mandated by US Congress. Those objectives do not always work in harmony. Gold is the central bankers Achilles heel. Interest in gold means people are losing faith in...
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Gold Backed Money Based On Blockchain is Coming

Gold Backed Money Based On Blockchain is Coming

Countries are going to begin using digital gold-blockchain monies. Blockchain is fast, efficient and transparent. Governments can collect taxes directly on-chain with a centralized core, but distributed ledger. You'll spend money on a debit card like you do now, it will be very similar, you won't tell the difference in the way it spends. Russia and China have been buying large amounts of gold and silver recently. Countries such as Germany, Netherlands, Hungry, Turkey and others...
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Gold-Backed Blockchain

Gold-Backed Blockchain

You won't be buying things with actual coins. You wont be using paper 'dollars' representing gold (as in the past). Those things won't even exist. The future is a digital money. Something incorruptible, verifiable and fast: a distributed blockchain ledger. Yes, it is similar to cryptocoins today. But not exactly. The difference is that the source code will be managed by your issuing government. Another difference is that it will be backed by gold. The coins...
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Fiat Money & Rigged Markets

Fiat Money & Rigged Markets

Our fiat money system was designed to fail. The government borrows money from the Federal Reserve with interest attached. As time goes on, the debt compounds and raises exponentially. There comes a a time when that money is impossible to repay unless ever more is created, bringing about hyperinflation. The value of money drops dramatically during hyperinflation due to the massive amount issued by the bank, diluting the existing supply. The only cure is printing more...
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Gold Blockchain Basics

Gold Blockchain Basics

It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold-backed blockchain system will give great faith in the health and security of our economic engine. Blockchain is a distributed public ledger containing a transaction history. This ledger is stored on multiple systems across a...
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JPMorgan Chase has partnered with National Bank of Canada and other major firms to trial a blockchain platform aimed to improve the debt issuance process.

The investment bank said in a statement Friday that the trial, which took place on on Wednesday, mirrored a $150 million offering the same day by the National Bank of Canada of a one-year floating-rate Yankee certificate of deposit.

The trial also saw participation from Goldman Sachs Asset Management, Pfizer, Legg Mason Inc’s Western Asset and others.

David Furlong, senior vice president of blockchain at National Bank of Canada, said in a statement that blockchain technology “has the potential to bring about major change in the financial services industry.”

Based on JPMorgan’s Quorum blockchain, the debt-issuance platform took over an year to build, according to the report. JPMorgan is currently mulling spinning off the Quorum project as an independent company. A spokesperson for the bank declined to comment on what they called “speculation” at the time, but said that “Quorum has become an extremely successful enterprise platform even beyond financial services and we’re excited about its potential.”

Umar Farooq, head of blockchain initiatives for JPMorgan’s corporate and investment arm, confirmed the move to Reuters, saying that discussions are in the early stages and the bank has noted interest from financial institutions in the project.

The open-source Quorum blockchain was launched in 2016 as a permissioned version of ethereum.

Notably in October 2017 Quorum integrated the zero-knowledge security layer (ZSL) from privacy-focused public blockchain zcash.

The technology obscures all identifiable information about a transaction but still provides the ability to audit those transactions.

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