Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Three Companies Whose Stock Prices Could Rise Thanks to Blockchain Tech Identified by JP Morgan
Financial service provider, JP Morgan Chase has come out and released a list of three public companies whose stock it believes could benefit through the use of blockchain technology.
Via an online note published on the firm’s website, a representative from JP Morgan mentioned that in the near future, IT companies will start deploying blockchain platforms in much the same way as many firms are currently making use of technologies such as AI (Artificial Intelligence) and Machine Learning to make their internal admin processes more efficient.
More On The Matter
As mentioned earlier, JP Morgan has currently ‘identified’ three companies that it feels will see “incremental growth opportunities” if they were to make use of blockchain technology. One of the listed businesses include American content delivery network and cloud service provider ‘Akamai Technologies Inc’.
The others projects that have been included in this list are:
- San Francisco-based digital transaction management firm DocuSign
- Cloud-based financial platform provider Ellie Mae.
Additionally, it is also worth noting that J.P. Morgan released a list of recommendations for their investors wherein they requested them to look for projects that are aiming “to replace middlemen and introducing more transparency”.
In this regard, Sterling Auty, a software equity research analyst at J.P. Morgan, said that Akamai could potentially administer all of its biz processes via the use of ‘BaaS’. He then went on to add that:
“Over time we could see much of the platform being based on blockchain, basically shifting its centralized security model for the distributed model of blockchain.”
Then while talking about ‘Ellie May’, Auty mentioned that the “real estate” domain was one of the prime use cases for blockchain tech.
“Utilizing blockchain to manage the entire mortgage process could bring trust among parties and use of smart contracts could help automate various tasks (inspection, income/employment verification.”
Final Take
As per a study released by JP Morgan early last month, it was revealed that blockchain-based products were rapidly seeping into a host of different industrial sectors. In addition to this, the in-depth study also looked at the firm’s ‘digital transformation roadmap’ which along with blockchain tech, also focuses on a host of other budding sciences including big data, cloud, AI, and robotics.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.