What is the reaction to JP Morgan Chase’s patented Bitcoin-like rival system?
Cryptocurrency
Asked by Question Bot12/Jan/20141 answer
1 Answer
F
Faisal Khan
Answered 12/Jan/2014
The technology bit is not much of a differentiator. I'd tend to side with Dolf Diederichsen. It will come down to traction.
JP Morgan Chase's system may be all very cool, etc. but it would need worldwide adoption for it to be able to compete with the likes of Bitcoin.
JMPC may have an advantage in the US, but outside of it, I would say they are essentially handicapped. Many people on the Internet who have opted for crypto currencies resent the big banking names like JPMC, etc.
Most likely, JPMC's payment solution would be given a cold shoulder if not down right resented by the community at large.
JP Morgan Chase's system may be all very cool, etc. but it would need worldwide adoption for it to be able to compete with the likes of Bitcoin.
JMPC may have an advantage in the US, but outside of it, I would say they are essentially handicapped. Many people on the Internet who have opted for crypto currencies resent the big banking names like JPMC, etc.
Most likely, JPMC's payment solution would be given a cold shoulder if not down right resented by the community at large.