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Home»Web 3»JP Morgan calls Bitcoin a ‘Stablecoin’?
Web 3

JP Morgan calls Bitcoin a ‘Stablecoin’?

2023-10-05No Comments2 Mins Read
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TL; DR

  • Open sea has just launched a number of new features in what the platform calls ‘OpenSea Studio’.

  • Simple payment processing, basic platform compatibility, ‘no code’ design and a user experience so intuitive it doesn’t require a manual? These are all staples of the Web2 space.

  • Here’s what else we would have liked to see: A way for creators to program their NFT art/functionality to be removed/paused when a seller lists it on a royalty-free marketplace – and enabled again the moment the NFT is delisted.

Full story

We just listened to Tyrone Lobban’s (the head of JP Morgan’s blockchain division) speech at the Digital Asset Summit, so you don’t have to!

The most important takeaway from Ty-Lo’s speech?

The traditional financial world isn’t that excited about crypto, but they are terribly love tokenization!

According to Ty-Lo, 99.9% of his conversations with customers are about tokenized assets, not crypto.

What does that mean?

Crypto = digital currency, tracked using blockchain technology.

Tokenized assets = traditional investment assets (think stocks, bonds and real estate) tracked using blockchain technology.

Okay, if the headline here reads: “Banker isn’t really into crypto, but would like to make the things he already trades more efficient” – that’s not that surprising.

What came out of left field for us were his comments about Bitcoin:

“Bitcoin may look more like a stablecoin these days,” and “the days of huge returns on Bitcoin may be behind us for some time.”

…which seems like a weird take, right? For an asset like BTC, which has almost doubled this year:

See also  Long-term Bitcoin holders are buying $14 billion worth of BTC as the retail industry heads for the exit

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