By Michael Lavere
According to Jason Bloomberg, a contributing writer to Forbes and author of the piece “JPM Coin From JPMOrgan Chase vs. Crypto Fans,” Ripple is being exposed as a scam by JP Morgan, and the move to establish the JPM Coin is simply banks getting “wise” to the situation,
“While Ripple has been positioning XRP as solving cross-border financial transaction issues among banks, there are also indications that Ripple is
essentially a scam. Banks around the world are getting wise, and JPMorgan has timed its release of its coin to fill the void that Ripple’s apparent dishonesty is leaving in the marketplace. “What we’re seeing is a market change triggered by Ripple and the correspondent banks in a defensive mode,” Bussmann says.”
Bloomberg’s comment towards Ripple, while lacking substantial evidence, likely surround the company’s position in controlling billions of XRP. For those well informed on the situation between Ripple and XRP, the point becomes a misnomer. Ripple has made regular efforts to disassociate itself from control of XRP in an effort to promote decentralization, a feature that distinguishes cryptocurrencies from digital assets such as the aforementioned JPM Coin.
Read the entire article at https://ethereumworldnews.com/ripple-xrp-jp-morgan-cryptocurrency-2019/
