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For what purposes do bank create their cryptocurrency
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[QUOTE="Khezo, post: 85464, member: 27133"] Already at least several [I][B]commercial banks[/B][/I] have created their own [I][B]cryptocurrencies[/B][/I]. Some [I][B]investment funds[/B][/I] invest part of their assets in selected cryptocurrencies. Recently, the investment bank JP Morgan has created its own cryptocurrency JPM Coin. Cryptocurrency JPM Coin will be used to settle initially a small part of the transaction, which JP Morgan performs on a daily basis for a total of about USD 6 billion. Thanks to JPM Coin, settlements between business partners should take place immediately, ie much faster than the current standards of transfers. However, apart from accelerating the time of the transaction, [I]what are the other goals for banks to introduce their own[/I] [I][B]cryptocurrencies[/B][/I]? Could investment banks create a new type of collateral for transactions in the event of a possible strong loss of the USD dollar in the event of another [B][I]global financial crisis[/I][/B] connected with the [B][I]currency crisis[/I][/B]? Such a risk exists if the problem of growing public debt in the US is not resolved and banks in China cease to buy US Treasury bonds. Do you agree with my opinion on this matter? In view of the above, I am asking you the following question: [I]For what purpose do banks create their own cryptocurrencies[/I] [/QUOTE]
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