Topic: How Will FB Coin/JPM Coin Impact the Cryptocurrency Ecosystem? - page 7. (Read 1121 times)
JPM coin and Facebook's cryptocurrency doesn't even cater the same people in the market. JPM coin is only used within their internal transactions of dong business while FB's crypto will only be used within their family of application, so if you are thinking that it will somehow affect the market demands and market dominance from existing cryptocurrencies available in the crypto exchanges think again, the cryptocurrencies this companies created are not meant to be traded in any exchange but to be used within their system.
From what I understand JPM coin isn't even a cryptocurrency, and it will surely be the same about Facebook coin.
So how do you want to impact the crypto currency ecosystem? It's like asking "IF Tesla creates a new car, how it will impact my paper toilets quality?"
Don't forget that Facebook has a few failed projects and its coin could be another one. People will use the fb coins just to buy credit to play Fb games like angry birds, idk
So how do you want to impact the crypto currency ecosystem? It's like asking "IF Tesla creates a new car, how it will impact my paper toilets quality?"
Don't forget that Facebook has a few failed projects and its coin could be another one. People will use the fb coins just to buy credit to play Fb games like angry birds, idk
With the news of Facebook entering the cryptocurrency network with its global coin people around the world could have known better about cryptocurrencies. JPM is speculated big as they are a big contributor to the economic cycle around the world. Global chain being a plan for stable coin and is much used on centralized platform it might get increased usage and doesn't gonna make a big impact over cryptocurrency.
My ideal scenario would be that current crypto users boycott Facebook and Jp Morgan coin and stick with the decentralized options. Unfortunately new users will definitely buy up anything with Facebook attached to it.
I think that they would affect the crypto market in a good way they would attract more investor since they are already well known and making more publicity for crypto.
But I don't really think that most of us would be interested in those centralized alt-coin and we would just use it for trading to gain profit ,
Most of us wouldn't really use it for it's sole purpose just like most of the centralized crypto .
But I don't really think that most of us would be interested in those centralized alt-coin and we would just use it for trading to gain profit ,
Most of us wouldn't really use it for it's sole purpose just like most of the centralized crypto .
"On the one hand, these are amazing developments that validate blockchain technology and its potential as a currency system, however, they are also drifting us away from the original vision of a decentralised monetary system. In February 2009, Satoshi wrote on a P2P online forum:
'The root problem with conventional currency is all the trust that’s required to make it work…but the history of fiat currencies is full of breaches of that trust'”
Taken from the article linked below, worth reading. Do you think the emergence of banking and corporate digital currencies will take away from the original cryptocurrencies or can they live in harmony?
https://medium.com/@marcus_61942/decentralised-cryptocurrencies-vs-digital-currencies-3811e36cc94f
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