JP Morgan Is All-In On Blockchain

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Zero Hedge: It has been nearly 18 months since JP Morgan CEO Jamie Dimon denounced bitcoin as a “scam” (while failing to disclose that JPM Securities was one of the largest buyers of a bitcoin-linked ETP traded in Scandinavia), and in that time JPM has surpassed Goldman Sachs, Citigroup and all other American investment banks to become the market leader in blockchain adoption.

Earlier this year, JPM introduced ‘JPM Coin’ a stable coin that the bank intends to use to facilitate the settlement of trades and transactions for its large corporate clients.

Now, the bank is taking a leading role in building out the Interbank Information Network, a heretofore little-known blockchain project that some 75 banks joined last year. From what we can tell, the project aims to be like a blockchain-based, decentralized alternative to SWIFT (which could rankle some at the Treasury). more …

Opinion: How interesting, seeing as how 4 days ago we posted this headline and comment: “Bitcoin Will Be The “Escape Hatch” During Imminent Global Recession”

“The EU is buried in debt/Socialism and the ECB (central bank) has the euro printing press going non stop, with no end in sight.

Enter digital currency. Working backwards form Revelation 13:11-17 we know that the False Prophet will require every person on earth to receive a mark to be eligible to transact business, even buying food. With 180 currencies in the world today the idea of that much control by any government is virtually impossible. Right on schedule, an alternative is here in digital currency

Blockchain is how cryptocurrency transactions will happen. It can best be described as a digital ledger that is programmed to record every digital transaction of everything of value.

After the spectacular crashes of the value of digital currencies in 2011, again in ’13, ’17, and today (4-10%), the roller coaster ride continues, and likely will, until central banks create their own digital currencies.

Jamie Dimon famously bashed bitcoin as a “fraud” that global governments would “crush.” Less than two years later, Dimon is pushing his company headfirst into the crypto space. The bank is launching its very own digital coin.

We have quoted Revelation 13:16-17 hundreds of times. We have said that there is no way for the final dictator to be able to control 180 global currencies unless cash is eliminated, and the nations’ central bankers begin to consolidate to a handful of currencies on their way to one.

The mechanism for the fulfillment of the prophecy is “under construction” by the third largest bank in the world.