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Infrastructure

JPM

JPM - stablecoin from J.P. Morgan

Rating: 4.4

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks:
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development


Token description
ICO date
TBA
Token price
N/A
Platform
N/A
Blockchain
Quorum (private Ethereum fork)
Token distribution date
N/A
Consensus method
Raft and Istanbul Byzantine Fault Tolerance
Escrow
N/A
ICO currencies
Bounty camping
N/A
Markets
N/A
Token functions
Means of settlement tied to fiat currencies and backed by fiat reserves
Risks
MARKET

- Competition with Ripple

PRODUCT

- Highly centralized blockchain product

BUSINESS MODEL

- Fiat backed is reserved on the J.P. Morgan accounts 

FINANCES
TEAM

- The team of executives with no details on developers (or colsultants)

Full analysis
Market

This product from the distinguished Investment Bank is an indicator of the interest in the crypto world from institutional investors. It was obvious for people following the news, but some remember blaming crypto in being a fraud by J.P. Morgan. Now we see how one of the greatest banks in the world implements blockchain in its services.

J.P. Morgan provides private services, so the JPM coin is hard to enter the mass market, so we will not see the competition with other stablecoins. By the way, the competition with Ripple is possible as they also aim to tokenize traditional finance and focus on financial institutions.

Given the strong connections in the financial world, especially in it private segment, we believe J.P. Morgan has unlimited possibilities to take a significant place in a few years.

It also must be noted, that Investment Banks are considered to be ideological competitors of the crypto movement (keening on the decentralization).

JPM will be represented in USD, JPY, EUR that also points on some of the target markets.

Product

JPM coin is backed by the fiat reserves and represent the USD equivalent. This coin will circulate in the private blockchain (Quorum, private Ethereum fork). JPM Coin ecosystem may be used by other financial institutions to issue their own stablecoins.

Quorum blockchain Implicates the choice between two consensus algorithms - Raft and Istanbul Byzantine Fault Tolerance. Quorum can implement all the updates in the Ethereum network.

This new product will be offered to financial institutions to tokenize financial relations and settlements.

Business model

JPM coin in the Quorum private blockchain network will not be available for the mass audience. In comparison to Ripple, the expansion to the traditional financial institutions will have a more private way.
Considering the activity and style of the J.P. Morgan business, we think it made the right decision to focus on private services when entering the market.

Finances

The J.P. Morgan obviously differs from all the projects we reviewed previously. In this Finance-section of the review, it must be clear for the reader that J.P. Morgan has unlimited resources to design the project and to promote it.

Team

It is not clear what the team is behind the project, but it is a fact that J.P. Morgan was always strong in hiring the best talents in whole countries. Salaries are also traditionally high these talents within the team. The team has expertise in the blockchain from 2015 (when the Quorum was introduced).

By the way, Github is led by:
- David Voell - Executive Director of J.P. Morgan since 1995
- Jitendra Bhurat -  Executive Director of J.P. Morgan
- Samer Falah - 13 years in IT/Banking, Executive Director and Head of Quorum Engineering in J.P. Morgan since 2015
- Neil Slinger - Executive Director in J.P. Morgan

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