JP Morgan and Goldman Sachs successfully cooperate on blockchain equity swaps

Contrary to the title, it’s actually eleven corporations that agreed to cooperate on this new blockchain project. “Why is it so important?” - one might ask. Well, how about the fact that a typical equity swap, being as hard as it is and often connected with debts restructuration, quite obviously needs optimization? While such corporate deals often miss the mind of regular people, being done by bureaucrats whose names we will never know, the speed of such operations is what influences the market considerably. Optimized equity swaps will make the market healthier.

However, blockchain is not a panacea, as some observers noted, and it needs to be applied carefully and gradually.

“Equity swap data is infamously complex and difficult to manage, making it a terrific fit for distributed ledger technology”, says the leader of Axoni, perfectly aware of the careful application issue.

The announcement by Axoni, the blockchain of which has been chosen as a project framework, also suggests that JP Morgan, Goldman Sachs, Credit Suisse and Citi have managed to conduct a blockchain-based equity swap for the first time ever.

Interestingly, JP Morgan, one of the top managers of which has infamously called Bitcoin a fraud, was recently caught laundering money itself.