Facebook and Google Take Another Step Into Crypto, page-81

JPMorgan blockchain chief: Why we launched our own cryptocurrency

For more clarity on the news, Yahoo Finance spoke by phone with JPMorgan head of blockchain Umar Farooq. He calls JPM Coin an “endorsement” of JPMorgan’s belief in blockchain, and he draws a distinction between the bank’s attitude toward blockchain and its attitude toward cryptocurrencies.

We’ve always been very bullish on blockchain but also very cautious. We don’t believe it’s a solution to all the world’s problems. And I think that’s where the hype cycle comes in. We’ve already developed solutions in blockchain tech, and we’ve had some of those go out there. More than 170 global banks have signed up for our Interbank Information Network blockchain program.

https://finance.yahoo.com/news/jp-morgan-blockchain-chief-umar-farooq-why-we-launched-cryptocurrency-jpm-coin-201430895.html