Quote from: DevilSlayer on February 15, 2019, 09:36:18 AM

Quote from: kenzawak on February 14, 2019, 01:12:35 PM

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, JPMorgans 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 JPMorgans 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.