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JP Morgan’s expansion of its blockchain-based interbank payments project signals that major banks are stealing a march on disruptors and startups by providing working systems developed on distributed ledger technology, say consultants and market participants.
“Instead of startups disrupting the scene, the bigger players are taking a leading role in adopting blockchain for business purposes,” said Denis Baranov, principal consultant at DataArt, in an email. “It is these early adopters who will have the advantage of stronger influence in the sector, demonstrating the potential in blockchain beyond the hype.”
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