JPMorgan Denies Involvement with Blockchain Startup DIT Financial

JPMorgan Chase has shot down claims of its involvement in a blockchain undertaking publicized final week.

An organization referred to as DIT Financial said in a press release printed on July 6, that it was working with JPMorgan on a undertaking referred to as DIT Wealth Chain. The headline of the press launch states that the 2 firms are “[co-operating] to develop a new blockchain project.” Further, the discharge contained an image of an occasion with each agency’s names on a presentation display screen.

Yet, when contacted for remark, a consultant for JPMorgan mentioned they had no involvement with, or information of, the undertaking.

DIT Financial printed a second press launch on July 11, which, whereas this time making no reference to a relationship with JPMorgan, refers to “a new report from JPM.” Yet the passage it quotes is definitely sourced from a report published in July 2016, co-written with consultancy agency Oliver Wyman.

At the time of publishing, DIT Financial had not responded to a request for touch upon the matter.

The press launch is not the primary time that JPMorgan’s well-known identify and model have been used on this manner.

Back in November 2015, CoinDesk reported that JPMorgan’s China-based operation had put out an announcement disavowing any involvement with a so-called “JPMCoin” scheme that was circulating through native social media on the time.

JPMorgan picture through Lewis Tse Pui Lung/Shutterstock.com