Jcoin - cryptocurrency for Japanese Banks

[dineshary]

Regional banks in Japan plans to create a digital currency pegged to Yen

http://www.trustnodes.com/2017/09/17/japanese-banks-launch-j-coin

Earlier today, there were reports of Indian cryptocurrency Lakshmi. Is this the beginning of fiat currencies getting into blockchain?

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[1715505416]

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[1715505416]

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[MatrixMining]

Regional banks in Japan plans to create a digital currency pegged to Yen

http://www.trustnodes.com/2017/09/17/japanese-banks-launch-j-coin

Earlier today, there were reports of Indian cryptocurrency Lakshmi. Is this the beginning of fiat currencies getting into blockchain?

Or maybe it is the beginning of governments and banks trying to keep their control over all money by creating their own cryptocurrencies, which will be massively propagated, with the aim of killing the cryptos they don't have under control

[qiman]

This is very interesting but it would be good to see how it will be distributed and will there be a limit of these coins or will they be inflationary just like fiat currency. If they are just mirror images of paper money it does not seem all that good to me, but if they are limited supply like Bitcoin then that would help to boost the local economy. If that were the case, I would want to purchase this for long term gains as well.

[Eugene_Debs_Hartke]

This is very interesting but it would be good to see how it will be distributed and will there be a limit of these coins or will they be inflationary just like fiat currency. If they are just mirror images of paper money it does not seem all that good to me, but if they are limited supply like Bitcoin then that would help to boost the local economy. If that were the case, I would want to purchase this for long term gains as well.

You think central banks will give up control of money printing rights? Ha!

[fxstrike]

coin backed by fiat currency beat the purpose of protecting the coin value by encryption, given how much bitcoin network uses electricity that is not worth to do, premined jcoin probably will not worth as good as bitcoin due to excessive availability in other form of the backing value (jpy), but due to high volume usage probably will take away investment from coming towards bitcoin

[Argoo]

Most likely, regional banks unite and create their own coins to serve this group of banks. Now in the banking system of crediting and money transfer there is a so-called SWIFT method, which is already technically and morally obsolete. Therefore, banks unite and create their coins on the basis of blockchein technology, which allows for a few seconds to transfer any money to anywhere in the world. Therefore, I believe that this process should not be frightened, blockchein technology develops.