JPM Coin?

[Black_Swan]

So prove to me that they’re lying.

[Black_Swan]

@rawraw

I would not be surprised if this Cryptocurrency is actually just a database with a coin for marketing purposes. You are actually one of the last people I’d expect to think uncritically about stuff like this,

so I’m assuming it means you generally do not understand that efficiency is not the reason people use blockchains.

Do any part of these transactions leave the JP Morgan system in this pilot? Doesn’t read like it to me.

https://www.jpmorgan.com/global/news/digital-coin-payments

“That said, the cost-savings and efficiency benefits would extend to the end customers of our institutional clients.”

“The JPM Coin will be issued on Quorum Blockchain and subsequently extended to other platforms. JPM Coin will be operable on all standard Blockchain networks.”

“JPM Coin is currently designed for business-to-business money movement flows”

[roberto]

Did some reading on this myself…My thought was that potentially the efficiency benefits have less to do with using a database vs. distributed ledger – and more to do with the fact that settling cross-border transactions with a made-up JPM Coin is likely less cumbersome than doing it with actual dollars…Potentially on a regulatory front?