Bitcoin Global News (BGN)
November 15, 2018 -- ADVFN Crypto NewsWire -- Investment bank
and financial services firm J.P. Morgan Chase has come out with a
strong opinion on three public companies. Analysts for the major
financial company expect a certain type of business will benefit
from integration of blockchain technology, and they’ve found three
that are the most ideal.
They forecast that IT companies
will engage blockchain technology in a similar way that many firms
claim to benefiting from machine learning and artificial
intelligence (AI) currently. These words are often used as
marketing ploys, but backend development has no been underway for
years. Real tangible benefits are starting to surface from more
user friend applications and mechanisms for fitting aspects of the
new technology into existing business structures.
Just last month J.P. Morgan’s
digital transformation was outlined by a third party company to
examine how technology is fueling their sustained growth. It
highlighted that blockchain and blockchcain as a service (BaaS) is
a key technology for the bank’s roadmap, along with big data,
cloud, AI, and robotics.
Regarding blockchain J.P. Morgan
designated three companies that will have “material incremental
growth opportunities” from the technology and that they “should be
looking to identify where the opportunity to replace a middleman is
the biggest, or where trust is needed where none exists, or what
companies are the best positioned to offer blockchain as a service
(BaaS).” - Software equity research analyst at J.P. Morgan
Sterling Auty
Akamai Technologies Inc
They are an American content
delivery network and cloud service provider. Sterling Auty believes
that Akamai could power its business through BaaS, because many
customers would rather use blockchain as a service than develop the
technology from scratch.
DocuSign
They are a San Francisco-based tech
and digital transaction management services firm. The company can
already integrate a blockchain network to its systems. DocuSign
aims to digitize the entire contracting process on its platform on
a network that is yet to be determined. “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” Sterling Auty
Ellie Mae
They are headquartered in
Pleasanton, CA as cloud-based platform provider for the mortgage
finance industry, which has clear cut major benefit potential from
blockchain’s network structure.
“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.”
By: BGN Editorial Staff