As announced JP Morgan. Bitcoin JPM Coin. that the institution has decided to design its own cryptoactive. The most striking is not the inspiration that Bitcoin has brought and its ecosystem for the institution, but how it is perceived by certain media, who attribute an extremely important influence to the project which, incidentally, is still no more than a pilot.
Although JPM Coin is still only a project, the fact that it uses “blockchain technology” and has been called a “cryptocurrency” would have induced a surge of purchase of cryptoactives according to the analysis published by Bloomberg and supported by the comments of Mati Greenspan. It should be noted that, in his report, Greenspan does not affirm the influence of JPM Coin, an assertion that seems to be exclusively from the author of the Bloomberg note.
The supposed influence of the new cryptocurrency is such that Bitcoin, despite having more than 10 years of history, receives a “backward impulse” from its launch. Thus, the newcomer to the ecosystem would have been one of the main causes of the rise in prices on Monday, February 18, generating a positive perception for market participants.
Although no further details are known, JPM Coin will focus primarily on making international payments, facilitating the exchange of securities between customers and banks, as well as helping to manage the bank’s treasury. All this with a high level profile and not individual users.
JPM Coin is a digital currency designed to make instant payments using blockchain technology.
The potentialities of Bitcoin and its technology seem to take on new meaning in the JPM Coin, just because the bank has more institutional legitimacy than the thousands of users that give life to the cryptocurrency created by Nakamoto every day.
Beyond its focus on blockchain technology and its development, what JPM Coin proposes is to displace Bitcoin from its preeminent role as a technology for the exchange of value, giving legitimacy to this idea based on the prestige and history of the banking institution.
Source: www.criptonoticias.com
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