JPMorgan Chase debuts real-time B2B payments in Singapore

"Distributed ledger technology has come a long way in a short time," said Gareth Lodge, a senior analyst at Celent, adding Partier came out of a pilot and has proved its viability. "JPM has built its Onyx business around blockchain and DLT and are forging ahead with not just experimenting but live examples. All large banks and networks are doing the same."

But there is a challenge in building a large network of banks, Lodge said.

"It would seem likely that blockchain and distributed ledgers will be widely used though quite how prominent it will be, where and when is a little difficult to say still, given the pace of change of banks," Lodge said, adding payments between banks often changes at the speed of the slowest adopter.