This week on #BlockchainCentral: JP Morgans chairman Jamie Dimon was famously known for denouncing Bitcoin as a scam back in 2017, possibly triggering a mass sell off of the worlds most popular cryptocurrency. Today, JP Morgan have gone all-in on the Quorum Blockchain, a permissioned, Ethereum-based, network designed to be used in a wide-range of industries from automative, global trade to financial.

We look into the business behind the JP Morgan brand and why they decided to take the most useful (in their opinion) aspects of blockchain technology and convert it into something usable by the existing financial industry, in the form of the #Quorum blockchain.

JP Morgan has created their own stablecoin, JPMCoin, to run on the network for testing instantaneous payments for users of their bank, which highlights one of their biggest steps: that they have circumvented a lot of groundwork by already being a huge part of the worlds financial infrastructure.

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Sources:
https://markets.businessinsider.com/news/stocks/jamie-dimon-best-quotes-2019-3-1028052761#-if-you-re-stupid-enough-to-buy-it-you-ll-pay-the-price-for-it-one-day-9
https://en.wikipedia.org/wiki/JPMorgan_Chase
https://medium.com/blockchain-at-berkeley/introduction-to-quorum-blockchain-for-the-financial-sector-58813f84e88c
https://medium.com/@s.matthew.english/jpm-quorum-0-3-what-is-constellation-ed00f52b7e59
https://blockchain.news/Post?id75b2efdb-229e-4e27-be93-4a99893b80d6
https://www.coindesk.com/jpmorgan-to-start-customer-trials-of-its-jpm-coin-crypto
https://www.forbes.com/sites/francescoppola/2019/02/17/is-jpmcoin-a-serious-threat-to-ripple/#50196a197586
https://www.jpmorgan.com/global/news/digital-coin-payments
https://www.coindesk.com/microsoft-makes-jpmorgans-quorum-the-preferred-blockchain-for-azure-cloud
https://u.today/fear-of-crypto-jp-morgan-building-blockchain-multi-currency-system-blessed-by-singapores-regulator
https://commons.wikimedia.org/wiki/File:Gary_Cohn,_president_and_COO,_Goldman_Sachs;_James_Dimon,_chairman,_president_and_CEO,_JP_Morgan;_Mary_Callahan_Erdoes,_CEO,_JP_Morgan_Asset_Management;_Dina_Habib_Powell,_global_head_of_corporate_engagement,_Goldman_Sachs.jpg
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Blockchain Central is your #1 trusted source for everything crypto. Our host Blu will guide you through weekly news about the political, legal and financial sides of crypto currencies like Bitcoin and Ethereum as well as recent developments in Blockchain technology, Initial Coin Offerings (ICOs), Initial Exchange Offerings (IEOs), Security Token Offerings (STOs) and new coins/tokens.

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