Research division the largest crypto currency exchange Binance has published a report which says that in the short term stablon from JPMorgan will not be able to compete with the token XRP from Ripple.
Analysts Binance Research note that was recently submitted to the JPM Coin is primarily intended for transactions between financial institutions. It is developed on the basis of private blockchain Quorum. The latter is based on a public Protocol Ethereum, but it also involves the technology of the proof with zero disclosure.
In turn, XRP is positioned as a “mediator between Fiat and cryptocurrency”. The decision of the Ripple is presented to the researchers Binance a few more open compared to JPM Coin.
However, JPMorgan has enormous resources — its assets amount to about $2.6 trillion. Thus, it could become “the largest Issuer stablon on the blockchain”. Thus on the market capitalization of JPM Coin can become a record holder in its niche.
Moreover, the coin of the us financial holding company is a kind of “harbinger of the third generation tablconv” – oriented world of traditional Finance, and solve certain challenges. To stabilium the first generation of researchers Binance related licenzirovanie dollar Tether (USDT). To the second generation are the so-called “new stabilini”, which appeared mainly in 2018.
The researchers also believe that JPM Coin can dramatically improve the efficiency of traditional financial services, making them faster and cheaper. However, the coin from JPMorgan will have a minimal impact on the market tablconv, at least in the short term.
“Large banks and other financial institutions possess certain advantages in production tablconv provided by Fiat. However, given their closed ecosystem on the basis of private blockchains, such proposals in the near future will displace from the market are liquid and publicly traded stabilini”, — assured Binance Research.
In addition, analysts believe that competitors JPMorgan unlikely to use in its operations JPM Coin being centralized and proprietary currency. Instead, other banks can issue their own coins.
We will remind, this month the Japanese financial Corporation Mizuho is going to run for mass use is a cryptocurrency pegged to the yen.