Re:JP Morgan Unveils USD-Backed Cryptocurrency for B2B Payments
by close04 on Thursday February 14, 2019 @02:04PM
(#19164806)
> and therefore not actually decentralized
> The Quorum blockchain has been tested with other major companies including Goldman Sachs and the National Bank of Canada
It is sort of decentralized. but the access is not open to everyone. Most banks aren't comfortable with putting all their eggs in the basket that could end up under someone else's control. Decentralized doesn't really make the bank feel at ease when they back up their coin by trillions of their own money. They'll want some guaranteed form of control.
The purpose is actually to bypass SWIFT and their network with a network that is completely under the bank's control.
> The Quorum blockchain has been tested with other major companies including Goldman Sachs and the National Bank of Canada
It is sort of decentralized. but the access is not open to everyone. Most banks aren't comfortable with putting all their eggs in the basket that could end up under someone else's control. Decentralized doesn't really make the bank feel at ease when they back up their coin by trillions of their own money. They'll want some guaranteed form of control.
The purpose is actually to bypass SWIFT and their network with a network that is completely under the bank's control.