I'm the one who mentioned "JPMorgancoin" or suchlike - and got swatted by our resident sooper-genyus, after which I swatted back
fwiw, I didn't get the sense of an exchange of swats but otoh, the discussion is meandering a bit.
I mean, if you
really want to get serious, I guess you could start by explaining why you consider a multinational bank would be interested in trying to run and control a decentralised cryptocurrency when their entire business rationale is based on centralisation.
Even if the context could be adjusted to fit, the key question they'd be asking is whether it would provide a consistent revenue stream in excess of $1bn because otherwise it would simply be unprofitable for them (*).
In short, what USP does a cryptocurrency offer a multinational bank and how would they cost it?
Edit: Ramamurthi explained to CoinDesk that a key challenge for banks that send cross-border transactions is making sure those who are sending money arent on any terrorist or money laundering watch lists. Given the velocity of money flows, this can create operational issues and higher costs. By using real-time settlement ledgers like the one Ripple offers, Ramamurthi said banks can reduce the friction created when meeting government oversight standards. - http://www.coindesk.com/us-banks-embraced-ripple/Cheers
Graham
Yes, you're right about Ripple. As for the USP, essentially the same as the USP for going online in the first place - which I already explained. I fail to see where you get the $1 billion figure from. An entire cryptocurrency and basic ecosystem can be bought for significantly less than setting up a new branch - which is exactly how any bank executive would see the start-up of a new crypto. A new decentralized "branch," in a new "hip" part of cyberspace, whose one aim is to get more customers and to make the current customers more likely to stick around: nothing more.
Why would $1 billion in new revenue be required for setting up a new branch - or a more-or-less equivalent expenditure, when the "we have to be legal" wing-clips are added to the base code along with tight integration into the bank's standard electronic accounts ledgers?