DLT: Innovation Certainly Hasn’t Finished Just Yet

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Christine Moy Update

As JP Morgan Chase introduces Christine Moy to the world, we are enlightened with her thoughts on Blockchain and technology. The lead for the Blockchain Centre of Excellence at the firm is pretty excited about the developments that still lie ahead with distributed ledger technology (DLT).

Christine Moy has years of experience in the Cryptocurrency industry and is a force to be reckoned with when it comes to knowledge on the subject. Her in-depth understanding of DLT comes from her role in syndicated loans where she was responsible for ensuring the necessary documentation was signed before transactions could be completed. These and the subsequent 10 years working in an array of assets and department at JP Morgan Chase have proven to be invaluable for her. As have the numerous mergers that she has experienced.

Blockchain Keeps Innovating

Many in the know believe that we are only witnessing just the tip of the iceberg with this new generation of Cryptocurrency transactions. The final aim is to have the finance industry being completely connected by public Blockchains. Although Moy is not really concerned with which is the best protocol or indeed Blockchain, she does note that it is vital that the developments in the industry are being followed with awareness of the changes fundamental to keeping ahead. Several things have happened over the last few months that were unthinkable this time last year. The Cryptocurrency industry is moving at a fast pace indeed.

As Moy states, it was crucial that JP Morgan Chase kept an eye on the technology around Cryptocurrencies especially in Ethereum. Although she does think that most of the base work has been done now for DLT and there will be far fewer new protocols entering the DLT market.

Of course, one of her big projects is Ethereum variant Quorum. Moy was very quick to point out that once open source software is in the marketplace, it often develops further as new opportunities are prompted. Several new entities have now started using Quorum since it was released, so JP Morgan Chase needs to stay on top of their game and ensure their client’s expectations are met and exceeded where possible. Quorum is especially popular in the capital markets where its growth is very notable. However, along with this success comes the absolute need for a dedicated team behind Quorum to continue its development. JP Morgan Chase is not a software support agency and will have to secure a company to look after bug fixes and technology breakdowns. At the moment, the firm is reviewing its options and weighing up the possibilities. This comes as no surprise. And whilst this is happening, in the background, Christine Moy is researching into working with new business applications to improve Quorum. One of her most recent successes is the use of a smart contract automating a Yankee certificate of deposit. Most impressively the delivery versus payment element was part of the automation. This is one huge step forward for Quorum and the industry, allowing securities only being received by investors once the necessary amount of cash has been paid.

The improvements keep on coming and will do so for the near future until everything has been ironed out.

Kinsley Moore

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Kinsley Moore

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