JPMorgan Is Interested In Blockchain: A New Patent Has Been Filed

Home / JPMorgan Is Interested In Blockchain: A New Patent Has Been Filed

JPMorgan Chase & Co has filed a new patent for a system that leverages blockchain for the management of virtual receipts backed by assets or bonds, according to a US Patent and Trademark Office (USPTO) patent filing published yesterday. The new patent includes a new form of a public blockchain-based method for the management of virtual receipts, which can take the form of tokens. The document describes Virtual Depositary Receipts, or “Virtual Receipts,” as “asset or obligation-backed electronic tokens.” The new method would use distributed ledger technology (DLT), such as blockchain.

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