[2019-02-21]Cryptocurrency & Blockchain Arms Race Triggered By JPMorgan

[Vladdirescu87]

The newly created cryptocurrency “JPM Coin” by JPMorgan (JPM) is gaining momentum in the blockchain arms race amongst the giant United States (U.S.) Federal Reserve (Fed), at a higher rate. It’s the first bank to develop its own digital coin. The coin is pegged to the U.S. dollar.

Recently, JPMorgan announced that it had created JPM Coin, a digital currency that allows users to transfer funds promptly, and also push its weighty global transactions as part of its major wholesale payments commerce.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/cryptocurrency-blockchain-arms/

[bustedsynx]

I think JP Morgan will also encounter the same issues other projects have tried to tackle. That is, the price volatility of cryptocurrencies. If they back it with their money in US dollars, I think they will lose money on this. One project I'm keen on is Etharemit.org which has a different take on exchanging coins and fiat to facilitate global remittance.

[kingzpro]

Its good i like the way such a giant financial institute has finally accepted and implemented the importance of blockchain technology and have come up with their own blockchain based banking solution in shape of a stable coin and i think it is just the beginning and many many banks and financial institutions will follow.

[ricardobs]

I don't think JP Morgans came into crypto because they want saw great potentials in crypto and decides to embrace it.
But, I think they are just thinking like business men and are trying to do anything possible to make sure they can make as much money as they can in this crypto ecosystem, though this doesn't change anything because it helps to give investors confidence about investing huge amount of money into crypto projects.

[Herbert2020]

I think JP Morgan will also encounter the same issues other projects have tried to tackle. That is, the price volatility of cryptocurrencies. If they back it with their money in US dollars, I think they will lose money on this. One project I'm keen on is Etharemit.org which has a different take on exchanging coins and fiat to facilitate global remittance.

it is a centralized bank created token, it might as well be the same numbersyou see in your bank account since everything about it is centralized, closed source and fully controlled by the bank! in other words it should not even be called a cryptocurrency and should not even be discussed on this forum since it has nothing to do with anything we have around here.

[IVEXO]

true that the jpm coin is gaining momentum and arousing lots of news from every corner of the blockchain world; but all of that leaves it vulnerable.
The project has not even being created, theres no node or any explanation on how its expected to exist.

lets leave the hypes behind and focus more on building a more conducive environment for the blockchain world.

[andrejka]

The newly created cryptocurrency “JPM Coin” by JPMorgan (JPM) is gaining momentum in the blockchain arms race amongst the giant United States (U.S.) Federal Reserve (Fed), at a higher rate. It’s the first bank to develop its own digital coin. The coin is pegged to the U.S. dollar.

Recently, JPMorgan announced that it had created JPM Coin, a digital currency that allows users to transfer funds promptly, and also push its weighty global transactions as part of its major wholesale payments commerce.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/cryptocurrency-blockchain-arms/

lol and this is the bank which was the main antagonist to all the cryptomarket. They showed their hate to crypto world and no one could ever think that they are going to create their own crypto. What a hypocritical situation. Never trust anyone's words especially in press and when it comes to making money...