JPM Coin, the JP Morgan coin

[kenzawak]

https://www.coindesk.com/jpmorgan-moving-its-in-house-crypto-to-real-world-trials-report

"Called JPM Coin, the token has been developed by engineers at the bank, according to a report from CNBC on Thursday, and is moving to real world trials in “a few months”

For the effort, JPM Coin will be used to settle a small portion of its transactions between clients of its wholesale payments business in real time, CNBC says. The bank moves over $6 trillion daily as part of that business, it adds.

Speaking to the news source, Umar Farooq, JPMorgan’s blockchain lead, posited three main use cases for the bank token, including replacing wire transfers for international payments by large corporate clients and cutting settlement times from days to just moments.

It could also be used to provide instant settlement for securities issuances, as well as to replace U.S. dollars at held internatinally by subsidiaries of major corporations using JPMorgan’s treasury services."

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[sowiteam]

Well it is one step further to push people in the centralized perfect controlling tool ....
It s only one step further for people to learn .....

Time will say if masses learnt or not ...... Instead a nice quantity of people understood already the difference between centralization and DEcentralization ...

Instead masses will learn by using    - almost "forced by institutions" to catch on ......


they do the job ... people learn with time

[Perunex]

If I understand correctly this is a private and closed blockchain?
Well it does make sense. Of course banks will have their own Ripple to transfer value internally. Anytime, anywhere for very cheap.

I find however interesting this Dimon guy. He is such a hypocrite.

[dothebeats]

Just a few days ago, Jamie Dimon called out bitcoin once again stating that it has no real world value and offer nothing to our modern world. But would you look at that, they are also the ones who created their own coin and expecting the masses to support it! This is preposterous at best, and would surely be criticized heavily should it come to materialization.

If I understand correctly this is a private and closed blockchain?
Well it does make sense. Of course banks will have their own Ripple to transfer value internally. Anytime, anywhere for very cheap.

It will run on the Quorum blockchain which is the bank's private version of ethereum so yeah, this is centralized, private and closed. Yikes.

[kenzawak]

https://twitter.com/WhalePanda/status/1096044762245853184

[eroejoe]

https://twitter.com/WhalePanda/status/1096044762245853184

Not bad point. I think that Ripple could have more troubles, than other projects, especially when JP Morgan take some of their clients.
Technology improvement is unstoppable. "They" must do something similiar.

[Idrisu]

https://www.coindesk.com/jpmorgan-moving-its-in-house-crypto-to-real-world-trials-report

"Called JPM Coin, the token has been developed by engineers at the bank, according to a report from CNBC on Thursday, and is moving to real world trials in “a few months”

For the effort, JPM Coin will be used to settle a small portion of its transactions between clients of its wholesale payments business in real time, CNBC says. The bank moves over $6 trillion daily as part of that business, it adds.

Speaking to the news source, Umar Farooq, JPMorgan’s blockchain lead, posited three main use cases for the bank token, including replacing wire transfers for international payments by large corporate clients and cutting settlement times from days to just moments.

It could also be used to provide instant settlement for securities issuances, as well as to replace U.S. dollars at held internatinally by subsidiaries of major corporations using JPMorgan’s treasury services."

Little by little blockchain technology is been adopted all over the world and times is coming when everything will be decentralized.  Jpm coins will be a most invest for me if it really come because many big guys are going to buy this coin.

[muhtesem]

If the price will not remain constant, I think it can be invested. old wolves that have given their years to the economy have realized that the future is cryptocurrencies This is a nice development for the market.  Is there anyone else who wants to buy it?

[sowiteam]

In regards to investments, as decentralization wont happen from night to day, it might be "secure" to keep a foot in the centralized world for a while until masses wake up ..

[Kopyleft]

Thia would be going a step further from digital fiat currencies and utilizing the blockchain technology to facilitate transactions.
It would help the popularity of the word 'cryptocurrency' however and would encourage some to do research on its origin and utilities.

[mich]

I thoughts that JPM was going to adopt BTC so whats with the own coin now?

J.P. Morgan launching a new crypto coin, here’s what it means for bitcoin futures

Good video here:
https://www.cnn.com/videos/business/2019/02/14/jpmorgan-jpm-coin-cryptocurrency.cnn-business/video/playlists/business-digital-currency/

[kolesozw]

This is a sh*tty  attempt from JP Morgan to make a centralised substitute of Ripple. My hope is that other banks will refuse to accept JPM and the coin will slowly, painfully and costly dies. After all the FUD from JP Morgan against Bitcoin, they don't deserve success.

I thoughts that JPM was going to adopt BTC so whats with the own coin now?

...

They would never do this. Bitcoin is decentralised. At most they can adopt centralised coin like Ripple.

[cryptjh]

This is both interesting and really frightening at the same time, a JP Morgan stabil coin, open to the public, cut easily end up as a top 10 coin on coin market cap, they cut even surpass Bitcoin and become number one, they just need a blockchain with 100 billion coin and say that they are worth one dollar each.

[mirakal]

This is an improvement in the crypto market, they are focus with stable coin but it will drive people to adopt and will understand that crypto does
exist with a lot of different coins. With that, it will open a door of investment to them, and in the long run people will be more knowledgeable about the crypto as a whole, stablecoin or a volatile coin, they both are useful in building a successful crypto space.

[tomahawk9]

This is a sh*tty  attempt from JP Morgan to make a centralised substitute of Ripple.

Sure, it's centralized, but the bankers and other institutions do not care about decentralization at all, so it's very unlikely that they'll go to Ripple just because it offers a "decentralized" platform, plus they can always create their own coin rather than use Ripple.

My hope is that other banks will refuse to accept JPM and the coin will slowly, painfully and costly dies.

Very unlikely. We're talking about one of the biggest multinationals and financial companies in the world which has tons of clients around the globe, and as much as I share your hatred towards this company, there's no way that this won't see success.

[Burogh]

I thoughts that JPM was going to adopt BTC so whats with the own coin now?

J.P. Morgan launching a new crypto coin, here’s what it means for bitcoin futures

Good video here:
https://www.cnn.com/videos/business/2019/02/14/jpmorgan-jpm-coin-cryptocurrency.cnn-business/video/playlists/business-digital-currency/

From what i am read, JPM coin focus on banks transfer network, like Ripple did. JPM coin is not bitcoin competitor and maybe XRP competitor. I think bitcoin price should not affected with JP Morgan steps in crypto market and should be make confident on bitcoin increase

[Naida_BR]

JP Morgan move is so smart and the announcement of it doesn't happen accidentally during this bearish market.
It was about time that Institutions will start admitting the benefits of blockchain and develop their own coin.

 I foresee that in the future they will start trying to make bitcoin obsolete in order to push people into adopting their own coin.

[DevilSlayer]

https://www.coindesk.com/jpmorgan-moving-its-in-house-crypto-to-real-world-trials-report

"Called JPM Coin, the token has been developed by engineers at the bank, according to a report from CNBC on Thursday, and is moving to real world trials in “a few months”

For the effort, JPM Coin will be used to settle a small portion of its transactions between clients of its wholesale payments business in real time, CNBC says. The bank moves over $6 trillion daily as part of that business, it adds.

Speaking to the news source, Umar Farooq, JPMorgan’s blockchain lead, posited three main use cases for the bank token, including replacing wire transfers for international payments by large corporate clients and cutting settlement times from days to just moments.

It could also be used to provide instant settlement for securities issuances, as well as to replace U.S. dollars at held internatinally by subsidiaries of major corporations using JPMorgan’s treasury services."

Its funny because JP Morgan now planning to create his own cryptocurrency. At first we saw that he is destroying the reputation the bitcoin by telling it is a fraud but now his perspective change overtime due to his understanding about blockchain technology and that's why he is now creating his own token.

[grifinmch]

https://www.coindesk.com/jpmorgan-moving-its-in-house-crypto-to-real-world-trials-report

"Called JPM Coin, the token has been developed by engineers at the bank, according to a report from CNBC on Thursday, and is moving to real world trials in “a few months”

For the effort, JPM Coin will be used to settle a small portion of its transactions between clients of its wholesale payments business in real time, CNBC says. The bank moves over $6 trillion daily as part of that business, it adds.

Speaking to the news source, Umar Farooq, JPMorgan’s blockchain lead, posited three main use cases for the bank token, including replacing wire transfers for international payments by large corporate clients and cutting settlement times from days to just moments.

It could also be used to provide instant settlement for securities issuances, as well as to replace U.S. dollars at held internatinally by subsidiaries of major corporations using JPMorgan’s treasury services."

Its funny because JP Morgan now planning to create his own cryptocurrency. At first we saw that he is destroying the reputation the bitcoin by telling it is a fraud but now his perspective change overtime due to his understanding about blockchain technology and that's why he is now creating his own token.

It seems that JPM is interested in making tokens on its own after understanding how bitcoin works, it seems that Crypto has been able to make it believe and want to give other sensations. And I think if he got the idea of a banking system maybe this would compete with Riak.

[kenzawak]

https://twitter.com/Nouriel/status/1096128231038746625