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InstaMed: JP Morgan Invests In Blockchain

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InstaMed: JP Morgan Invests In Blockchain

  • JP Morgan acquired blockchain based InstaMed
  • What is the link between InstaMed, Warren Buffet and Haven?
  • ‘Soon Buffett will be HODL’n’

After an agreement of over $500 million signed on Friday, JP Morgan is purchasing a blockchain based healthcare payment and billing technology firm.

The deal marks JPMorgan’s largest takeover since it acquired Bear Stearns and the retail banking assets of Washington Mutual in 2018.

With past events like the creation of JPM Coin and the update that the bank is employing blockchain experts than any other firm on Wall Street, it is clear the largest bank in the United States has dire interest for blockchain technology.

The banks thus boast that the combination of its strength with that of the leading healthcare payments solution is a strong force that can withstand competitions in the fast-changing world of payments.

However, the latest acquisition made by the wall street firm look to have stirred up gossips that JP Morgan’s  CEO Jamie Dimon is interested in Blockchain technology.

Jasons Williams, a co-founder at Morgan Creek, while echoing the acquisition of the health payments tech, company InstaMed as a massive one for the banks and the blockchain industry, expressed his view on Dimon’s desire for blockchain.

“Jamie Dimon continues to invest in Blockchain,” Williams added that InstaMed, the latest and one of the largest buy under the tutelage of Dimon, leverages blockchain solution for executing transactions.

What is the Link Between the InstaMed, Warren Buffet and Haven?

There have been reports that even though J.P. Morgan and Amazon co-developed Haven, a new healthcare venture for the purpose of reducing annual healthcare cost of 1.2 million employees, there is no link between the latter and InstaMed.

InstaMed is designed with the purpose of slashing transaction cost in the American health care industry to better the experience of users with blockchain solution.

However, Williams, in his own opinion feels the whole deal is wounded around Warren Buffet and Haven. “This whole plan is 2 steps from Warren Buffet and Haven,” Willams said.

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Williams who is also a prominent person in the healthcare industry and the President and CEO – PRTI, a crypto based waste to energy business, ended the chronicle by saying “Soon Buffett will be HODL’n.”

Isaac is currently taking his degree in journalism. His interest varies from Entertainment, Current Events, and Business Monetization. In his early years in the writing industry, he joined different online publication as a contributing writer. Today, he is now a full-time contributor to TODAY'S GAZETTE.

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