Difference between revisions of "JPM Coin"

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{{Infobox_Company  <!-- Feel free to remove comments like this when you add real info -->
 
{{Infobox_Company  <!-- Feel free to remove comments like this when you add real info -->
 
| company_name = JPMorgan Chase & Co.
 
| company_name = JPMorgan Chase & Co.
 
| company_logo = [[Image:jpmclogo.jpg{{!}}200px]]  
 
| company_logo = [[Image:jpmclogo.jpg{{!}}200px]]  
 
| key_people =    James Dimon, Chairman and CEO
 
| key_people =    James Dimon, Chairman and CEO
| foundation =    2004 as JPMorgan Chase & Co. (Original 1799, See History)
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| foundation =    2019
 
| location =      Corp HQ - New York City; Retail financial services - Chicago, IL
 
| location =      Corp HQ - New York City; Retail financial services - Chicago, IL
| employees =      10,000 +
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| employees =      10,000+
| products =      Financial services
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| products =      Financial services; [[digital token]] used for payment settlement
 
| twitter =        Chase
 
| twitter =        Chase
 
| linkedin =      https://www.linkedin.com/company/jpmorgan-chase/
 
| linkedin =      https://www.linkedin.com/company/jpmorgan-chase/
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JPM Coin is a [[cryptocurrency]] developed by [[JPMorgan Chase & Co.]].<ref>{{cite web|name=DealBook Briefing: JPMorgan Has Its Own Cryptocurrency|url=https://www.nytimes.com/2019/02/14/business/dealbook/jpmorgan-cryptocurrency.html|org=The New York Times|date=February 14, 2019}}</ref>
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JPM Coin is a [[cryptocurrency]] developed by [[JPMorgan Chase & Co.]]<ref>{{cite web|name=DealBook Briefing: JPMorgan Has Its Own Cryptocurrency|url=https://www.nytimes.com/2019/02/14/business/dealbook/jpmorgan-cryptocurrency.html|org=The New York Times|date=February 14, 2019}}</ref>
  
 
== Overview ==
 
== Overview ==
  
In February 2019 JPMorgan Chase & Co. announced that it had created its own [[cryptocurrency]], JPM Coin, a [[digital token]] created to improve payment settlements between JPMC clients. This product will not likely be available for retail investors, so it cannot be traded like [[bitcoin]], or similar [[digital assets]]. CNBC reported at the time of the announcement that testing for this product would begin "in a few months" from the announcement.<ref>{{cite web|url=https://www.cnbc.com/2019/02/13/jp-morgan-is-rolling-out-the-first-us-bank-backed-cryptocurrency-to-transform-payments--.html|name=JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business|org=CNBC|date=February 14, 2019}}</ref> Based on this description, JPM Coins may work more similarly to [[XRP]], the native digital token of the [[Ripple]] Network, than to bitcoin.<ref>{{cite web|url=https://www.coindesk.com/10-things-you-need-to-know-about-ripple/|name=10 things you need to know about Ripple|org=Coindesk|date=February 14, 2019}}</ref>  
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In February 2019 JPMorgan Chase & Co. announced that it had created its own [[cryptocurrency]], JPM Coin, a [[digital token]] created to improve payment settlements between JPMC clients. This product will not likely be available for retail investors, so it cannot be traded like [[bitcoin]], or similar [[digital assets]]. CNBC reported at the time of the announcement that testing for this product would begin "in a few months" from the announcement. Based on this description, JPM Coins may work more similarly to [[stablecoins]] than to bitcoin.<ref>{{cite web|url=https://www.cnbc.com/2019/02/13/jp-morgan-is-rolling-out-the-first-us-bank-backed-cryptocurrency-to-transform-payments--.html|name=JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business|org=CNBC|date=February 14, 2019}}</ref> Another possibility is that they will function similar to [[XRP]], the native digital token of the [[Ripple]] Network, which is used to settle large-volume payments between banks and other financial institutions across international borders.<ref>{{cite web|url=https://www.coindesk.com/10-things-you-need-to-know-about-ripple/|name=10 things you need to know about Ripple|org=Coindesk|date=February 14, 2019}}</ref>
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In May 2019, Coindesk reported that Quorum, the [[blockchain]] upon which JPM Coin is based, had been getting significant technical overhauls for about six months. Some of the most notable updates were changes made to Quorum's architecture that formed its privacy functions. Oli Harris, the JPMorgan Quorum lead, Quorum is being developed to serve as a [[platform]] for developing [[open source]] software.<ref>{{cite web|url=https://www.coindesk.com/jpmorgan-has-quietly-rebooted-the-blockchain-tech-behind-its-jpm-coin|name=JPMorgan Quietly Reboots the Blockchain Behind Its JPM Coin Cryptocurrency|org=Coindesk|date=May 9, 2019}}</ref>
  
 
== References ==
 
== References ==
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[[Category: cryptocurrency]]
 
[[Category: cryptocurrency]]
 
[[Category: altcoins]]
 
[[Category: altcoins]]
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Latest revision as of 12:59, 9 May 2019

JPMorgan Chase & Co.
Jpmclogo.jpg
Founded 2019
Headquarters Corp HQ - New York City; Retail financial services - Chicago, IL
Key People James Dimon, Chairman and CEO
Employees 10,000+
Products Financial services; digital token used for payment settlement
Twitter @Chase
LinkedIn Profile
Facebook jpmorganchase
Website JPMorgan Chase & Co. Homepage

JPM Coin is a cryptocurrency developed by JPMorgan Chase & Co.[1]

Overview

In February 2019 JPMorgan Chase & Co. announced that it had created its own cryptocurrency, JPM Coin, a digital token created to improve payment settlements between JPMC clients. This product will not likely be available for retail investors, so it cannot be traded like bitcoin, or similar digital assets. CNBC reported at the time of the announcement that testing for this product would begin "in a few months" from the announcement. Based on this description, JPM Coins may work more similarly to stablecoins than to bitcoin.[2] Another possibility is that they will function similar to XRP, the native digital token of the Ripple Network, which is used to settle large-volume payments between banks and other financial institutions across international borders.[3]

In May 2019, Coindesk reported that Quorum, the blockchain upon which JPM Coin is based, had been getting significant technical overhauls for about six months. Some of the most notable updates were changes made to Quorum's architecture that formed its privacy functions. Oli Harris, the JPMorgan Quorum lead, Quorum is being developed to serve as a platform for developing open source software.[4]

References