It is no more news that JP Morgan Chase Investment Bank one of the world leading financial institutions in the world, took a big step in launching their supposed cryptocurrency. This must be commended, because it indicate that cryptocurrency is getting more recognition, acceptance and adoption. The only challenge is that it didn’t follow the right procedure or platform in getting this done. The JP Morgan cryptocurrency lacks all of the properties of a traditional blockchain – it’s more of a tokenized distributed ledger with censorship and centralized governance.
A cryptocurrency project isn’t valid if it is not on the basis of a blockchain and has no protocol. A Cryptocurrency is no longer the “future” of money, its the “today”of money gaining more relevance and acceptance at the passing of each day.
The CEO of Kurecoin calls the attention of Guaranty Trust Bank (GTB), Zenith Bank , United Bank Of Africa (UBA) and all African Banks to take after the example of JP Morgan Chase Bank (One of the largest and most significant financial insitutions in the world) and start looking into ways of creating their own cryptocurrencies and at the same time should learn from the mistake of JP Morgan Chase Financial Institution. He encourages Guaranty Bank, United Bank of Africa (UBA), Zenith Bank and all Africans Banks to Pay serious attention to the fact that a cryptocurrency is a financial solution that can only exist on the basis of a blockchain technology. The CEO of Kurecoin also stressed that When African Banks are set to create and list their own cryptocurrencies they should consult with blockchain industry experts so as to avoid JP Morgan mistake, There is certainty that JP Morgan Chase Investment Bank will definitely come back to correct this mistake soon.
Abikure Tega CEO of Kurecoin also encourage the necessary government agencies to learn from how Malta has taken a very progressive approach to cryptocurrencies, positioning itself as a global leader in cryptocurrency regulation. This move by Malta has encouraged Cryptocurrency Startups to relocate to Malta, African Government should pay close attention to this, so as to stay relevant.
As long there is a need for a reliable financial solution, blockchain technology is the basis for it and cryptocurrency is the product. Cryptocurrency is no longer a subject of controversy,