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mariusthegreat

JP Morgan never lose 🤨

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1 hour ago, mariusthegreat said:

https://www.coindesk.com/jpmorgan-expanding-blockchain-project-with-220-banks-to-include-payments?amp&__twitter_impression=true

 

JPM Morgan are spreading out to other banks to include settlements and cross border payments..... 

 

 

Marius honestly you're just a FUD'der and full-time whiner in this forum. All you do is complain and FUD. 

Why are you here when you have no confidence in XRP and Ripple?

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5 minutes ago, TheXRPNinja said:

Marius honestly you're just a FUD'der and full-time whiner in this forum. All you do is complain and FUD. 

Why are you here when you have no confidence in XRP and Ripple?

😕 dude I’m not a FUD merchant just news.

just interested in opinion. Apologies didn’t mean it to come out so. 

Actually stoked about the golden cross and we are up even though the rest are majority down.

will stop posting.

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27 minutes ago, TheXRPNinja said:

Marius honestly you're just a FUD'der and full-time whiner in this forum. All you do is complain and FUD. 

Why are you here when you have no confidence in XRP and Ripple?

 

19 minutes ago, mariusthegreat said:

😕 dude I’m not a FUD merchant just news.

just interested in opinion. Apologies didn’t mean it to come out so. 

Actually stoked about the golden cross and we are up even though the rest are majority down.

will stop posting.

I don't like the title (yepp, bit FUDish) but the article itself is more relevant than 90% of what's posted in the press section imho.
Whether competition is good or bad at this stage remains to be seen. Thanks for sharing. 

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6 minutes ago, 7strings said:

 

I don't like the title (yepp, bit FUDish) but the article itself is more relevant than 90% of what's posted in the press section imho.
Whether competition is good or bad at this stage remains to be seen. Thanks for sharing. 

No worries. Wasn’t meant as fud, again apologies.

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33 minutes ago, mariusthegreat said:

😕 dude I’m not a FUD merchant just news.

just interested in opinion. Apologies didn’t mean it to come out so. 

Actually stoked about the golden cross and we are up even though the rest are majority down.

will stop posting.

That being said, JPM Morgan and their new coin does not even compete with Ripple and XRP. So where does that leave us?

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6 hours ago, mariusthegreat said:

https://www.coindesk.com/jpmorgan-expanding-blockchain-project-with-220-banks-to-include-payments?amp&__twitter_impression=true

 

JPM Morgan are spreading out to other banks to include settlements and cross border payments..... 

 

 

Hummm JPM never lose.... Did you take at look at the recent fines they have to pay because of market manipulation. Right now I just remember the EU one, but I'm sure there's at least another one.

Perhaps they have to shill their sh..coin in order to raise the €!:P

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JPM coin doesn't work like XRP.  JPM coin is not trustless and does not settle instantly.  To use JPM coin you have to trust that JPM has the money backing the coin.  Tokens that represent something - be it the dollar, gold, whatever, completely miss the point.  Who's to say JPM has any backing for this coin.  As far as I can tell their coin is a worthless project.

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16 minutes ago, Eric123 said:

JPM coin doesn't work like XRP.  JPM coin is not trustless and does not settle instantly.  To use JPM coin you have to trust that JPM has the money backing the coin.  Tokens that represent something - be it the dollar, gold, whatever, completely miss the point.  Who's to say JPM has any backing for this coin.  As far as I can tell their coin is a worthless project.

Agreed, given most banks' histories with CDO's, I expect a tether clone, but probably even less backed than USDT.

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Posted (edited)
5 hours ago, Eric123 said:

JPM coin doesn't work like XRP.  JPM coin is not trustless and does not settle instantly.  To use JPM coin you have to trust that JPM has the money backing the coin.  Tokens that represent something - be it the dollar, gold, whatever, completely miss the point.  Who's to say JPM has any backing for this coin.  As far as I can tell their coin is a worthless project.

Actually, the news this article is about has nothing to do with JPM coin anyway - it's to do with reducing the failure rate on transactions when conducting KYC checks:-

Quote

JPMorgan, he said, has now built in a feature that would allow for real-time verification that a transaction is being sent to a valid account. Currently, an error in the recipient’s account number, sort code, or other detail, can result in the payment being rejected days after it was sent.

It also doesn't look to be interoperable across many systems, but a closed system used by banks affiliated with JPMorgan.  11,000 banks in the world, JPMorgan's Quorum-based blockchain is servicing just 220 of them - and for KYC purposes, not cross-currency settlement. 

Furthermore, JPM coin can't even do cross-currency settlement.  You have to buy it in USD and then redeem those JPM coins back to JPMorgan and you get your USD back.  That's basically buying IOUs with a currency, then trading the IOUs back to the original currency (USD).  Impossible to work for cross-currency transactions as you MUST redeem JPM tokens back to USD and ONLY through JPMorgan.

 

Edited by 2ndtimearound

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Posted (edited)

I'm going to re-post this nugget for those who missed it... JPMorgan Asset Management (Japan) ownership share in SBI Holdings continues to go up - check my link: Up from 3.9% to 4.6% now 5.6%...

https://asia.nikkei.com/Companies/SBI-Holdings-Inc

FINANCE

SBI Holdings, Inc.

SHAREHOLDERS

Baillie Gifford & Co. (13.6%)

J.O. Hambro Capital Management Ltd. (6.5%)

JPMorgan Asset Management (Japan) Ltd. (5.6%)

Asset Management One Co., Ltd. (4.5%)

SBI Holdings, Inc. (3.5%)

Nomura Asset Management Co., Ltd. (3.0%)

BlackRock Fund Advisors (2.9%)

The Vanguard Group, Inc. (2.4%)

Schroder Investment Management Ltd. (1.8%)

Saudi Arabian Monetary Agency (Investment Management) (1.8%)

I'm going to tag @Hodor here, do you find it interesting/curious that JP Morgan Asset Management (Japan) has a growing stake in SBI Holdings, Inc? And look, a new shareholder just recently - it's our friend the Saudi Arabian Monetary Agency (Investment Management) (1.8%). I'm surprised this doesn't get any discussion...

Ripple and Saudi Arabian Monetary Authority (SAMA) Offer Pilot Program for Saudi Banks

2 MIN READ • TEAM RIPPLE          FEB 14, 2018

https://ripple.com/insights/ripple-and-saudi-arabian-monetary-authority-offer-pilot-program-for-saudi-banks/

"The Saudi Arabian Monetary Authority (SAMA) — the central bank for the Kingdom of Saudi Arabia (KSA) — has signed an agreement with Ripple to help banks in the KSA improve their payments infrastructure using xCurrent."

"This ground-breaking pilot program is the first of its kind to be launched by a central bank. Participating banks from the KSA will use xCurrent to instantly settle payments sent into and out of the country, with greater transparency and lower costs."

Edited by GiddyUp
add SAMA

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On 5/29/2019 at 3:51 PM, GiddyUp said:

I'm going to tag @Hodor here, do you find it interesting/curious that JP Morgan Asset Management (Japan) has a growing stake in SBI Holdings, Inc? And look, a new shareholder just recently - it's our friend the Saudi Arabian Monetary Agency (Investment Management) (1.8%). I'm surprised this doesn't get any discussion...

Nice find!  

While I'm dubious about any sort of suspected alliance between a 'money center' bank and Ripple, it's fascinating to see JP Morgan actually investing in one of their biggest allies - SBI!  :JC_thinking:

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On 5/29/2019 at 10:51 PM, GiddyUp said:

I'm going to re-post this nugget for those who missed it... JPMorgan Asset Management (Japan) ownership share in SBI Holdings continues to go up - check my link: Up from 3.9% to 4.6% now 5.6%...

https://asia.nikkei.com/Companies/SBI-Holdings-Inc

FINANCE

SBI Holdings, Inc.

SHAREHOLDERS

Baillie Gifford & Co. (13.6%)

J.O. Hambro Capital Management Ltd. (6.5%)

JPMorgan Asset Management (Japan) Ltd. (5.6%)

Asset Management One Co., Ltd. (4.5%)

SBI Holdings, Inc. (3.5%)

Nomura Asset Management Co., Ltd. (3.0%)

BlackRock Fund Advisors (2.9%)

The Vanguard Group, Inc. (2.4%)

Schroder Investment Management Ltd. (1.8%)

Saudi Arabian Monetary Agency (Investment Management) (1.8%)

I'm going to tag @Hodor here, do you find it interesting/curious that JP Morgan Asset Management (Japan) has a growing stake in SBI Holdings, Inc? And look, a new shareholder just recently - it's our friend the Saudi Arabian Monetary Agency (Investment Management) (1.8%). I'm surprised this doesn't get any discussion..

I wonder if JPM invests in SBI because they believe what they're doing is going to profit them or because they want the influence to steer them in another prefered direction...

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