Ripple’s CEO, Brad Garlinghouse, has finally responded to JPMorgan’s recent announcement of its new JPM Coin. Is Ripple feeling the pressure or just annoyed with a bank adopting a similar system? Let’s find out.
As predicted, banks are changing their tune on crypto. But this JPM project misses the point – introducing a closed network today is like launching AOL after Netscape’s IPO. 2 years later, and bank coins still aren’t the answer https://t.co/39EAiSJwAz https://t.co/e7t7iz7h21
— Brad Garlinghouse (@bgarlinghouse) February 14, 2019
Ripple CEO Responds to JPM Coin News
Long before this tweet, Garlinghouse released a blog post titled ‘The Case Against BankCoin’ on his LinkedIn back on August 24th, 2016. The post describes the very thing that was just recently released by JPMorgan. In his earlier piece, Garlinghouse feels these projects are misguided and would cause even more friction than what our current currency landscape has now.