Largest US bank (Chase) is launching it’s own crypto currency

Discussion in 'Bitcoin and Cryptocurrency' started by Roco Bama, Feb 15, 2019.

  1. Roco Bama

    Roco Bama Member

    New York (CNN Business)JPMorgan Chase boss Jamie Dimon famously bashed bitcoin as a "fraud" that global governments would "crush." Less than two years later, Dimon is pushing his company headfirst into the crypto space.

    The bank is launching its very own digital coin. JPMorgan is the first major American bank to do so.
    The debut of JPM Coin, which unlike bitcoin is equivalent to the US dollar, highlights the potential long-term threat blockchain poses to traditional financial players. The speed and security offered by blockchain makes the payment space ripe for dramatic disruption.
    "JPMorgan and the other big banks have no choice but to go down this road," said Ed Yardeni, the former chief economist at Deutsche Bank who now leads Yardeni Research. "If JPMorgan doesn't do it, someone else will."

    Jamie Dimon hated bitcoin. Now JPMorgan is getting ahead of the crypto revolution - CNN
  2. T-Bagger

    T-Bagger Member

    LOL, idiot eating his own words.
    Roco Bama likes this.
  3. TX_Hempknight

    TX_Hempknight Member Supporter

    Probably going to be tracked. Not worth it to me.
    T-Bagger likes this.
  4. proken

    proken Member

    Trying to take XRP's clients.
  5. master.on

    master.on Member

    If it's pegged to the US$, it may find a nice niche market for those unable/unwilling to use their credit card for safety, or other reasons (not for privacy, as it can be traced).

    Maybe there's actually a HUGE market for those in third countries who want to buy online but don't have an int'l or American issued CC?
    Roco Bama likes this.
  6. Genghis K.

    Genghis K. Member Supporter

    Jamie Dimon has a history of being one step ahead of everyone else. Obviously, it doesn't hurt that he is head of one of the largest banks in the world with his position allowing him tremendous influence.

    Him bashing cyber currency seems convenient and at least somewhat calculated....... planned all along??