JPMorgan coin could destroy Ripple

The announce of JPMorgan coin has made some noise among the cryptocurrency community. And Ripple`s top management isn`t an exception.
JPM Coin is capable of destroying Ripple. We remain that Ripple is a company that specializes in cross-border payment.
BlombergTV editor Joe Weisenthal wrote on his Twitter page: “If it turns out that the Blockchain/Coin framework turns out to be a good one for banks transferring money around, then the JPM Coin should absolutely obliterate Ripple”
Authoritative trader under a nickname WhalePanda agrees with Weisenthal`s statement. “If you listen very carefully you will hear all Ripple holders now scream in agony,” said the expert.
The new initiative from JPMorgan has found a response among other well-known representatives of the crypto community. Thus, the “self-proclaimed Satoshi Nakamoto” Craig Wright wrote that he was possessed a patent, allegedly capable of restricting the right to issue JPM Coin.
Brad Garlinghouse, the head of Ripple, also responded to JPMorgan’s plans. He believes that there is no point in cryptocurrencies launched by banks. He is sure that if banks want to make deals with each other, they will have to exchange their unique digital currencies for Fiat. According to Garlinghouse`s statement, this approach is complete nonsense.
“As predicted, banks are changing their tune on crypto. But this JPM project misses the point – introducing a closed network today is like launching AOL after Netscape’s IPO,” wrote Ripple`s CEO.
GMOTrading notes that many smaller financial institutions also have plans to release its own digital assets.
For example, representatives of the New York-based Signature Bank said that they have been using Ethereum solutions from the Signet platform for several months, which allows them to instantly transfer dollar-linked stablecoins. More than 100 people already use the system. In addition, an average of $250K is on each account.
You can find more information about the cryptocurrency market, Bitcoin and Ripple on GMOTrading platform.

The information above cannot be considered as an investment advice and past results do not indicate future performance.
**Investors should have experience and understand the risks of losing all the initial investment

Comments

Post a Comment

Popular posts from this blog

Lightning discounts

Image
The Pentagon’s largest contractor reported that it would be able to reduce the cost of producing its F-35A jet a year earlier than its intended date. The so-called F-35 program works to increase the fleet of fighters to more than 3 thousand units. The program is also aimed at reducing the price of the F-35A fighter to $80 million due to increased efficiency and with large orders. Reducing the cost of the F-35 a year ahead of time allowed the Pentagon to receive a discount of 8.8% on deliveries of 478 fighters for three years. In three years, the agreement will cost the US Department of Defense $34 billion. According to Deputy Secretary of Defense Ellen Lord, the agreement this year will reduce the cost of each F-35A from $89.2 million to $81.35 million. Deliveries for the second and third year of the agreement will be even cheaper - the cost of each fighter will fall below $ 80 million, estimated at Pentagon. In the coming years, Lockheed Martin is expected to produce...
Read more

Natural gas price is a delight for eyes

Image
There is a new era when oil value is higher than gas has. While oil worth keeps lifting, natural gas is gaining momentum in falling. In the second quarter, the exchange prices for natural gas finally broke away from oil prices. While oil prices are on average at a comfortable level of $ 65 per barrel, in Europe the cost of gas on the exchange is at ten years minimum - $ 110 per thousand cubic meters, the value of LNG in Asia is $ 170 per thousand cubic meters. Why did this situation come up? There are at least several roots. The first one, exchange figures, reflect only a part of the international gas trade and LNG. And the same Qatari, Australian LNG is supplied to Asian markets mainly with oil rate. June 20 futures set at 2.185 dollars per million British thermal units, which is on the most decreasing spot for the contract for the first month since 2016. This marked a breakthrough in the range from about 2.30 to 3.60 dollars from January. Thursday futures amounted...
Read more

Samsung showed bending smartphone Fold and new flagships S10

Image
Samsung has presented new devices in San Francisco and has shown the bending Galaxy Fold phone. Models S10 and S10 + received Dynamic AMOLED displays with the same resolution of QuadHD + (3040 × 1440 pixels, 19: 9) and diagonals of 6.1 and 6.4 inches, respectively. Displays are bent on the side faces, but this time almost do not leave any frames at the top and bottom. Galaxy S10 has received two cameras on the front and on the back. The camera on the back of the phone will consist of three modules: a 12-megapixel wide-angle lens, an ultra-wide-angle module for landscape pictures with a resolution of 16 megapixels and a conventional lens with a resolution of 12 megapixels. Galaxy S10e is the most budget model in the line of new flagships. The phone has got a screen of 5.8 inches without curved edges. The smartphone has three cameras, there are 12-megapixel, 16-megapixel on the back cover and 10 MP in front, as well as a battery with a capacity of 3100 mAh. Instead of an u...
Read more