Bitcoin is Internet Money
Jack Dorsey, Twitter, and Square CoFounder, interviewed with Joe Rogan, explained why Bitcoin could become the defacto crypto-currency for the internet.
One thing that stood out for us is that he emphasized Square’s approach to making sure they did not build an app that perpetuated negative behaviors for people buying and selling Bitcoin. They’ve eliminated the ability of users to purchase Bitcoin with credit cards as well as discouraging crypto-day traders.
More crypto-entrepreneurs should take Square’s approach to think humanely about how to expand their line of businesses without hindering the human experience.
JP Morgan announced that it will launch a crypto-currency, JMP Coin, a stable coin. It will be used to transfer money (or value) between their intermediaries and customers. Crypto-enthusiasts have expressed disbelief as Jamie Dimon, JP Morgan CEO, was a big antagonist of crypto-currencies-once calling Bitcoin a scam. JMP Coin doesn’t need to gain wide-adoption across all banks like XRP for it to be viable or profitable.
