First Bank Has Made Its Own Crypto - JP Morgan
Well that was a turn of events. No longer are banks bad mouthing crypto but now they are making their own. I guessed they would have to issue crypto at some point as it would save them a lot on fees (especially internationally) and it looks like that time has come. JP Morgan is the bank and they are making the JPM coin that is pegged to the use dollar.
JP Morgan Chase is the biggest bank in the US and this literally tells the world you need to crypto to compete. Other banks will be sure to follow in order to compete and this should lead to more people talking about the benefits of the industry.
Now all we need is for them to accept other coins and use their coin as a way to trade and we are good to go.
here is the link for more info:
https://www.cnn.com/2019/02/14/investing/jpmorgan-jpm-coin-cryptocurrency/index.html
Not really a good thing. They are just trying to centralize crypto. Might as well buy some XRP. same idea.
"They are just trying to centralize crypto."
Maybe, but they are like most thinking or anticipating the fomo. If blockchains breaks through they wanna be ready. Makes sense to me.
true enough
In case you or somebody cares..
Here in the Netherlands banks were already experimenting or working with crypto-blockchain for a while now.
1 bank offers a btc wallet and they manage your private key. Maybe interesting for old folks who cant handle a computer. Who knows? i don't know a single person who has a wallet there.. (ABN bank)
Friend of mine went to a meeting last year at a bank about blockchain and they are quite honest about it and they acknowledged the potential of blockchain but have no idea what to do with it... (Rabobank)
And I.N.G. bank were transferring info through blockchain for more then a year now.. And they are probably much more projects going on which i dont know.
But these 3 banks are as far a i know the biggest in the country and blockchain is far from mainstream here...
#reality
well maybe the banks see as a way to save their business model. work as. a crypto exchange maybe?
hh
That's good news! I knew this would've happened sooner or later.
Do you mean Pegged?
lol on it, thanks
Hmm, probably a first step in the centralization of crypto.
I don't think you can centralize crypto as a whole but some coins will be centralized and some will not.
And probably there could be the start of a new war between centralized and decentralized cryptos.
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The major cryptos should be listed gradually by bank. In the distant future hope to see banks coming with crypto trading with the massive change of technological update.
all banks to follow this banks
I think so
It would be so simple for them to turn into an exchange.
This is just the beginning.
Wow, this is Great news! Hopefully more banks will follow their lead.
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Acceptance of crypto on this level is fantastic!
Keep up with amazing content.