Blockchain Insider Podcast by 11:FS 85. JP Morgan do a coin
Simon's in the studio joined by 11:FS Head of Delivery Adam Davis and David Nicol, Digital Assets at R3.
First up, JPM Coin (01:12).
You may have noticed that we're focusing pretty hard on this story but that's because it's huge news for crypto and we wanted to do a bit of a special on it.
The panel gets into what makes this coin so special and why it's such a surprise to see JPM go in this direction. Adam shares why he thinks the term cryptocurrency is so loaded and argues that JPM Coin isn't really a coin at all but a token. Simon dives deep into double entry bookkeeping and how it applies. David Nicol explains the role fractional reserve banking plays in how the coin is backed and that it's only a matter of time until the other major banks start doing similar things.
We go through the reactions this news caused on the Twittersphere, including comments from Jameson Lopp, Brad Garlinghouse and Maya Zehavi.
Moving away from tweets the panel goes back to the news by looking at an analysis of the top 10 narratives for pushing JPMC (32:26).
Our experts go through the narratives in a quick-fire round and address the criticisms of JPM Coin, Adam points out that it's addressing a real use case before the group talks about broad and narrow money, clearing banks, balance sheets and digital currency.
We've got a great Tweet of the Week from @AriDavidPaul on crypto fiat (government controlled permissioned cryptocurrencies) becoming a battleground.
All this and so much more on this week's episode of Blockchain Insider. And why not send us your best tweets? See if you can get a shout out on the show!
We hope you enjoy the show and, as ever, don't forget to subscribe!
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This week's episode of Blockchain Insider was produced by Laura Watkins and Petrit Berisha. Edited by Alex Woodhouse.
Special Guests: Adam Davis and David Nicol.
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