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JPMorgan + ConsenSys

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US banking giant JP Morgan are in talks to merge its Quorum blockchain division with Ethereum solutions startup ConsenSys according to a recent Reuters exclusive.
The banking behemoth built the Quorum blockchain internally using the Ethereum network, so the merger makes a lot of sense. It is being used by JPMorgan to run the Interbank Information Network, a payments network that involves more than 300 banks.
No further details have been provided but the move could be massive for Ethereum, especially if the bank starts investing into the ecosystem.
ConsenSys has recently laid off 14% of its staff as it restructures and it remains to be seen if JPM staff will join the blockchain firm.
Further reports state that the firm is launching a ‘Proof-of-Use’ network to support Ethereum projects and discourage speculation. Activate is part of ConsenSys Codefi, an Ethereum-based operating system for decentralized finance (DeFi) products.
The developments are all good news for ETH prices which are going strong today and have a lot further to go.
Will Ethereum hit $400 or higher this year? Add your comments below.
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