Blockchain Gets Major Endorsement

by Michael Keane

Last week, JP Morgan announced that it has created its own cryptocoin, the JPM Coin. Given what has been said before by the company, this was a major shift and endorsement not only for cryptocurrencies, but also a big endorsement of the blockchain technology behind it.

While Blockchain technology is absolutely still in its infancy, the announcement can be looked on as a game changer when it comes what the true perception of the technology by the big players. It harkens back to the infancy of the housing crisis, when at first the banks laughed at people like Dr. Michael Burry and Mark Baum, but then joined them in a big way while using deception announcements to keep the public at bay. Last week's announcement by JP Morgan would not have come without some testing of the technology's utility to the bank's mission and profit model. Jamie Dimon calling cryptocurrencies a "fraud" 18 months ago now looks like a delay tactic.

This announcement is also a very good indicator that average consumer uses are now ready to had in the marketplace. 

The following outlets have caught the sea change in JP Morgan. Enjoy!

Cnbc article-Hugh Son

CNN Article- Matt Egen

Forbes Article - Michael del Castillo 


  ** This blog is used for opinions and ideas and should not be used as a direction to act without doing your due diligence.**