JP Morgan calls Bitcoin a ‘Stablecoin’?

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TL; DR

  • Open sea has just launched a number of new features in what the platform calls ‘OpenSea Studio’.

  • Simple payment processing, basic platform compatibility, ‘no code’ design and a user experience so intuitive it doesn’t require a manual? These are all staples of the Web2 space.

  • Here’s what else we would have liked to see: A way for creators to program their NFT art/functionality to be removed/paused when a seller lists it on a royalty-free marketplace – and enabled again the moment the NFT is delisted.

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We just listened to Tyrone Lobban’s (the head of JP Morgan’s blockchain division) speech at the Digital Asset Summit, so you don’t have to!

The most important takeaway from Ty-Lo’s speech?

The traditional financial world isn’t that excited about crypto, but they are terribly love tokenization!

According to Ty-Lo, 99.9% of his conversations with customers are about tokenized assets, not crypto.

What does that mean?

Crypto = digital currency, tracked using blockchain technology.

Tokenized assets = traditional investment assets (think stocks, bonds and real estate) tracked using blockchain technology.

Okay, if the headline here reads: “Banker isn’t really into crypto, but would like to make the things he already trades more efficient” – that’s not that surprising.

What came out of left field for us were his comments about Bitcoin:

“Bitcoin may look more like a stablecoin these days,” and “the days of huge returns on Bitcoin may be behind us for some time.”

…which seems like a weird take, right? For an asset like BTC, which has almost doubled this year:

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