Post
Topic
Board Altcoin Discussion
Re: Banks have 'No Intention' to use Ripple's XRP token
by
Gnosis7777
on 27/01/2018, 21:52:14 UTC
For Banks and Others big companies, the will try to get in block chain technology , I think the tokens who built as protocol or even as a network have a big chance over those who produce services, so I think Ethereum , Neo, Tezos,... etc, will acquires more value .

JP Morgan is working on it's own blockchain, it's been named Quorum.

https://www.jpmorgan.com/global/Quorum

Yes, banks are interested in blockchain, however they will (and are) create a private blockchain 'based' on pre-existing protocols, like Ethereum, Neo, or even Ripple. (However they will be not using the same network as the rest of us, think of it as a private hard-fork.)

This is a common misconception (and in my opinion, simply marketing fraud) with these press releases and corporate crypto announcements, it appears none of these companies will be using the publicly traded tokens, they will instead have their own private versions of the blockchains.

I've seen the same thing playing out with the 'Ethereum Enterprise Alliance', none of the companies are using the publicly traded ETH token, or even the Ethereum network, instead they are developing private blockchains based on Ethereum smart-contracts; as seen in the above JP Morgan Quorum example.