Let’s refresh our memories on a few critics, a few months ago JP Morgan chief, Mr. Jammie Dimon, has long been an ardent critic of bitcoin.

In an interview with Fox Business, Mr. Dimon said that he trusts blockchain as a technology behind BTC, is “genuine”.

On the back of this news, the South African Reserve Bank (SARB) has fruitfully accomplished the pilot named ‘Project Khokha’, a Proof-of-Concept for interbank transfers using ‘Quorum’, JPMorgan’s Ethereum-based blockchain. An official statement detailing the results of the pilot said that Project Khokha’s main goal was “to build a proof-of-concept (PoC) wholesale payment system for interbank settlement using a tokenized South African rand on distributed ledger technology (DLT).”

As per SARB’s tweet:

While the bank does not intend to replace its existing settlement systems yet with blockchain technology, Deputy Governor of the Central Bank Francois E. Groepe said that Khokha could act as a backup layer.

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