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More likely, they want to be able to show their investors that they're exploring blockchains so that they aren't seen as dinosaurs missing out on the hottest new tech

For those of you doubting that this type of market signalling happens, look at Kodak: https://www.bloomberg.com/news/articles/2018-01-09/kodak-sto...

Any semi-valuable exchange that requires a level of trust may benefit from smart contracts.

You could have just said J.P. Morgan

No

Ethereum or another blockchain?

I told them it will have to be Ethereum for now