Within a few years, the blockchain will replace existing technologies — so says the CIO of a financial holding JP Morgan Lori bir (Lori Beer). Their assumptions the Manager announced at a recent press conference in Buenos Aires.

Bir sure that soon the world will see the widespread use of technologies of the distributed registry. The us banking conglomerate JP Morgan, for example, have already implemented it into work to ease the payment procedure, and provide secure storage of customer information in accordance with the principle of “know your customer” (Know Your Customer or KYC). In addition, according to bir, the blockchain is a good tool in the fight against money laundering.

“We are working in many directions, in particular, has developed a blockchain-based platform with open source on the basis of Ethereum… and contacted Ethereum, and Hyperledger Enterprise Alliance”, — said bear.

Though, as admitted by the bir, the technology is a distributed registry, in which it is now, has a number of shortcomings in relation to privacy and scalability, and its application in business processes is important for JP Morgan. So, the company hopes not only to reduce costs but also to substantially change the approach to developing new products with more features.

Answering a question of journalists on the JP Morgan position relative to the cryptocurrency, bir gently announced that the holding company maintains only that in law, and has a staff of experts, evaluating everything that happens in this area.

Recall that earlier this month the Director General of a financial holding Jamie Dimon (Jamie Dimon) also shared their positive opinions about the blockchain and noted that JP Morgan is studying technology and going to use it for many tasks.

The word Daimon confirms the patent application for the development of blockchain-systems to record Bank payments, which the company filed in may. The developers believe that the system will reduce costs and speed up the calculations in real time, as eliminate the need for the involvement of a trusted third party.