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Crypto Tips Unplugged: JPM Coin

published on Feb 18, 2019 by Crypto Tips Favorite
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Welcome to the Rabbit Hole
Who are the CypherPunks:
What’s this All About Anyway:
Bitcoin vs Blockchain:
Why BTC?:
BTC Myths Debunked:
Why Most Economists Hate BTC:
What is a Blockchain:
What is Proof of Work?:
Words From Satoshi 1:
WFS 2:
WFS 3:
WSF 4:
WSF 5:

JPM Coin
Only available to banks, brokerage firms, corporate treasurers. Each coin will supposedly be redeemable for one US dollar, but for some reason they do not want it to be labeled a “stable coin”.
JPM coins will operate within a private, permissioned network. It’s not available to the general public and was created to be completely subservient to all the regulations available.

These reasons are why a lot of people in the crypto community are refusing to call this one a cryptocurrency, and rightfully so. It doesn’t ring true to any of the values that the cypherpunks fought hard to bring into fruition. JPM coin is stripped of anything that remotely resembles a liberated currency. Ok, now that I’ve got that off my chest, let’s consider this addition to JP Morgan Chase bank and how it could possibly still be seen as a positive for this cryptocurrency movement.

Banks are and should be threatened by Bitcoin and this world of cryptocurrencies because they do not require intermediation. Which is exactly what banks do.
This is what we call disruption. It is what creates the bleeding edge of technological advancement. In a world where everything seems to be going digital, it’s incredibly exciting to see this development with currencies and how they can work in new ways. Peer to peer, permission less, immutable, without intermediaries.

Those who are chronically optimistic will look at this creation of JPM coin as at least a step in the right direction. A sign of what is to come, that is mainstream adoption of cryptocurrencies. So here are my words of encouragement, if your friends or family members begin asking you what you think of JPM coin, tell them how it works, tell them its short comings, but most importantly, tell them about the philosophy behind Bitcoin. Bitcoin, the thing he hated and is now borrowing its framework to create a tool that ensures his company remains relevant.
If you find yourself not very confident in this potential conversation, please take some time to explore the links I’ve provided down in the video description to learn more and become a source of information and inspiration yourself.

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