THELOGICALINDIAN - Ripple CEO Brad Garlinghouse questioned the purpose and the all-embracing account of the afresh appear cryptocurrency JPMCoin He additionally categorical the positives aspects of above banking players dispatch in the industry
Garlinghouse Questions Purpose of JPMCoin
Brad Garlinghouse, CEO at Ripple — the aggregation abaft the third better cryptocurrency by bazaar cap XRP — bidding his thoughts on the amount of JP Morgan Chase’s afresh appear cryptocurrency.
He batten at the DC Blockchain Summit on March 6. The controlling said that he thinks it’s “great” that above banking institutions such as JP Morgan Chase dispatch into the cryptocurrency industry. His praises, however, concluded quickly. He stated:
True to his words, Garlinghouse referred to addition appointment that he had been speaking at area he was interviewed by addition from Morgan Stanley.
Criticizing the interoperability of JPM’s new cryptocurrency, or the abridgement thereof, he asked if “we’re activity to accept all these altered coins? Are we aback to area we are with abridgement of interoperability? I don’t get it.”
The CEO additionally bidding his apropos about the abridgement of arete abaft the bank’s cryptocurrency and the actuality that it doesn’t break any absolute issues.
Other Industry Participants Also Skeptical
The CEO of Ripple is not the aboriginal one to abolish the purpose of JPM’s cryptocurrency.
Bitcoinist recently reported that the CEO of cryptocurrency-based acquittal belvedere Abra, Bill Barhydt, said that action blockchains, as able-bodied as tokens actualization from above all-around corporations, are “nonsense.” He said:
JP Morgan Chase announced its stablecoin dubbed, “JPM Coin,” beforehand in February — analogue that its “applications are bluntly absolutely endless.”
What do you anticipate of JPM Coin? Do you accede with Brad Garlinghouse? Don’t alternate to let us apperceive in the comments below!
Images address of Bitcoinist archives, Shutterstock.
