Effect of JP Morgan’s Launch of Cryptocurrency ?

Prashant Sharan

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Hi Flippers,

I came across a very interesting article on the effect of JP Morgan Chase's announcement of launching its own cryptocurrency.

"It’s been a very interesting few years recently hasn’t it? As if there weren’t enough reasons for your typical domain name investor to diversify his online bets, here comes another big one.

Financial powerhouse JP Morgan Chase has announced it will be launching its own cryptocurrency called “JPM Coin” with a fixed rate value of $1. The move solidifies a [sort of] ‘questionable’ industry with instant validity in my opinion as JP Morgan acts as the first major U.S. financial institution taking serious notice.

One might reasonably assume that JP Morgan jumping into the business and launching a bitcoin-like currency and technology all its own will further push investment into this area."

Full article source
 
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