“California needs a comprehensive statewide strategy to uplift and upskill our workers, to ensure technological advancements in AI, blockchain, Big Data, are creating jobs, not destroying them, and to reform our institutions so that more workers have an ownership stake in their sweat equity.
We will appoint a new Commission on California’s Workforce & Future of Work that will bring together leaders from labour and business – both the public and private sectors. Their assignment is this: to come up with new ideas to expand worker opportunity without extinguishing innovation or flexibility.” Governor of California Gavin Newsom
I don’t care what people say about banks…
JP fxcking Morgan just told the entire world that crypto is here to stay.
They couldn’t beat um, so they joined um.
Btw they’re worth 2x the entire crypto marketcap😬
— Birch (@BitcoinBirch) February 14, 2019
“To date, even in this bear market, we still run a profitable business.” Binance CFO, Wei Zhou
Absolutely amazing how short sighted people are about the JPM news.
One of the largest banks in the world is piloting multiple Ethereum use cases. OF COURSE they will start on a private chain.
Within 3-5 years they will be hooking into the public chain.
— eric.eth (@econoar) February 15, 2019
As predicted, banks are changing their tune on crypto. But this JPM project misses the point – introducing a closed network today is like launching AOL after Netscape’s IPO. 2 years later, and bank coins still aren’t the answer https://t.co/39EAiSJwAz https://t.co/e7t7iz7h21
— Brad Garlinghouse (@bgarlinghouse) February 14, 2019
“As everywhere else, innovation is transforming monetary possibilities. But not all changes are for the better. Some seem clearly for the worse. The right way forward is to reject libertarian fantasy, but not change itself: our monetary system is far too defective for that. We should adapt. But, history reminds us, we must do so carefully.” Martin Wolf, Chief Economics Commentator at the Financial Times
This morning our team at Morgan Creek Digital announced a new $40 million crypto venture fund anchored by two public pensions.
The institutions aren’t coming.
They’re already here. 🚀
— Pomp 🌪 (@APompliano) February 12, 2019
JPM Coin to be used by “corporations, banks and broker-dealers for international payments, securities transactions and treasury services.”
Not sure why people are making this a “Bitcoin vs JPM” when it’s clearly “Ripple vs JPM”….
Long Bitcoin, Short XRP?
— Rob Paone (@crypto_bobby) February 14, 2019
“Another week in crypto and another obituary for Bitcoin makes its way onto the internet. It seems that for every evangelist that speaks about the glowing future of cryptocurrency and Bitcoin particularly, there is a commentator who speaks of its apparent death or impending doom. In fact, there is even a dedicated page on a website now that catalogues every Bitcoin obituary going back as far as 2010 (current known obituary count currently stands at 345 for those of you that are interested).
The reason that we mention this is that amongst the cited reasoning behind the perceived problems with Bitcoin, “adoption” seems to get some regular airtime. It does make sense that if adoption doesn’t take place of this new technology then its advances and projected domination will be muted. For all the murmurings of big companies getting involved in the space and embracing crypto, we are still yet to see a big real world statement that is hard to be avoided. However, there is a chance that all this could yet be about to change and very soon.
There is a story (in the Philippines) about the launch by a bank of their crypto ATM machines that enable swift transfer and withdrawals into and out of fiat currency – something which no doubt will push the adoption of crypto further in that part of the world. More pertinently for us over here in the West, there are rumours abound of the new Samsung Galaxy S10 containing a cryptocurrency wallet which is due for launch at the end of February. If these rumours are to be believed, then it signals a huge statement that will inevitably see their rivals follow suit and also make cryptocurrency readily accessible for millions of Samsung users everywhere.
The simple fact is that this move could be the first domino falling for greater mass adoption for real world use, and so whilst the end of February has the important business of the Ethereum Constantinople fork and the Van Eck ETF decision, don’t take your eyes off Samsung’s S10 launch on the 20th.” David Thomas, Director and Co-Founder, GlobalBlock
Dear Ripple, there is no such thing as "dormant funds" in banking. Oh, and banks make money from FX. https://t.co/D1HDmVZBS7
— Frances 'Cassandra' Coppola (@Frances_Coppola) February 11, 2019
“A Bitcoin ETF is virtually certain. The only question is when. The SEC has several legitimate thoughtful concerns that the industry has to overcome but I’m confident they will. Eventually we will see a Bitcoin ETF and it’s at that stage that I will be much more comfortable recommending that ordinary investors participate.” Ric Edelman, Founder, Edelman Financial Engines
Good summary by @davidgerard of the murky story of the collapse of a crypto exchange after the death of its founder. Key quote “leaving your coins on an exchange is like keeping your money in a sock under someone else’s bed.”
— Rory Cellan-Jones (@ruskin147) February 11, 2019
And the use case is what? JPMCoin pegged to USD? You can keep it because its rubbish! https://t.co/maZSlpEAd0
— Nick Ayton (@NickAyton) February 15, 2019
“The news that JPMorgan has established its own stablecoin is an early indication that 2019 could be the year of the stablecoin. There is a substantial amount of time and effort pouring to the development of stablecoins, and we’re excited to see where this leads.
In the short-term, this proves that the underlying technology and concept of stablecoins is viable. They are an attractive option to those who want to explore the world of cryptoassets. This development is also testament to the growing interest from traditional players and their clients.” Iqbal V. Gandham, UK Managing Director, eToro
In which way has the new alleged JPMorgan crypto coin anything to do with blockchain/crypto? It is private not public, permissioned not permissionless, based on trusted authorities verifying transaction not trustless, centralized not decentralized. Calling it crypto is a joke
— Nouriel Roubini (@Nouriel) February 14, 2019
Too many times, and for much too long, hard earned money from innocent good people is being stolen by shady projects and shady exchanges.
Blockchain technology and true decentralization is designed to avoid scam and fraud, and give power and control to the people.#EnoughIsEnough— Rudy Bouwman (@RudyBouwman) February 11, 2019
“Bitcoin is going to be digital gold, a place where you have sovereign money, it’s not US money, it’s not Chinese money, it’s sovereign. Sovereignty costs a lot, it should.” Mike Novogratz, Founder of Galaxy Digital
Tong Zhou was an ex-@BitTorrent employee and I am saddened by the news of the loss of his life savings in Quadriga CX's digital EX. I sympathize with his predicament and would like to hereby extend an offer to him to once again return to #BitTorrent. #TRON https://t.co/TFh41DWD77
— H.E. Justin Sun 孙宇晨 (@justinsuntron) February 11, 2019
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.