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Support of digital currency from American banks

FXcoins - Support of digital currency from American banks

American banks decided to join the world of cryptocurrency to support its further development in the global financial market. So JPMorgan Chase became the first who has developed and produced its own coins on Valentine's Day. Before its full launch testing will be carried out, it will begin in a few months after the presentation. Electronic currency JPM is supported by dollar and can be used to pay for internal operations. However, there is a perception that the Bank is not aware of the full potential of blockchain technology.

 

The whole point is in the internal implementation, which introduces some differences in the banking coins from the classical decentralized counterparts. While the majority of external systems remain unstable, it uses a fixed exchange rate, that equals one virtual currency to $1. In addition, it is planned to be used so far only in the framework of intra-Bank transactions.

 

However, there are a number of advantages, which are already retrieved from this system of internal calculations. For example, it affects foreign policy, and growth of Bitcoin is expected, the concept of a stable and secured coins is considered long-running in its term.

05 March 2019

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