Charles Hoskinson, Ethereum, Cardano creator and IOHK CEO, SHREDS JP Morgan's new digital asset, JP Morgan Coin commentary appearing in a crypto panel at the Hong Kong Hybrid summit:
Hoskinson says the bankers are guilty in a deceptive critique of JP Morgan and in his strategic transfer to the crypto currency.
“JP Morgan Coin I've seen your comment, listen, you don't understand this area. You don't know how any of the crypto coins work.
There is absolutely no need or benefit behind what you create. It's a concept proof and some kind of weird admin fantasy to say that they're just in space and prove it.
That's the whole reason we're in because these guys are guilty. They've done horrible things in the last ten years. They bankrupt the world and excluded three billion people from the world financial system as a result of their regulation and systems. The whole world, unfortunately, is experiencing the consequences of bad decisions. And so, as opposed to reaction, there is a tendency to crypto currency and continue to grow, will continue to gain interest. And in the end it will collide with the old system. Ve
“But I see them as the last remnants of a dying industry trying to achieve some sort of relevance. And I have little respect for this kind of work. I don't see that as a positive thing. Bunu
Hoskinson said the IOHK is trying to modernize the administrations and offer blockchain-based solutions to be embraced by local leaders.
Oloj We are modernizing Blockchain technology. Everything from property and business registration to voting systems, supply chain management, as many vertical areas as we can find. When you have Blockchain technology, you have a digital identity, you have wallets and then you can connect them to unauthorized systems like Cardano and Ethereum and give them access to credit, insurance, remittances and such things. So it's a slow, methodical walk and takes some time.
But this is very meaningful. In fact, we are starting to do nothing and we are building something that is quite important in the end, and we are finally able to get a value of trillions of dollars in the end. "
Hoskinson expresses the deep traces left by the traditional Western financial system to the world.
Ler One of the biggest problems in developing economies is that old and contemporary empires tend to be war zones, and that these foreign actors have come and received resources. They take the value and don't leave much behind.