75 banks joined the JPMorgan Interbank information network


More than 75 banks have joined the Interbank information network (IIN), based on the Quorum blockchain and created by the American financial holding company JPMorgan, Financial Times writes. The launch of the project was announced at the end of last year. Then the partners of the project were two banks - the Australian ANZ and the Canadian Royal Bank of Canada. JPMorgan is working on making the blockchain system the main technology in the traditional financial system. Interbank information network is a single network for cross-border payments, creating competition for the outdated SWIFT system. Thanks to IIN, the information necessary to conduct payment between banks is added and adjusted quickly and easily.

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