Discussion
Settling the skepticism over JPM Coin
Ketharaman Swaminathan

Ketharaman Swaminathan

  Transaction flow without JPMCoin: Payer USD ---> USD @ J P Morgan Chase Inc. ---> Payee USD. Transaction flow with JPMCoin: Payer USD ---> USD @ J P Morgan Chase Inc. --> JPMCoin @ wherever it is ---> Payee USD (if not Payee JPMCoin ---> Payee USD).  JPMCoin is the "highly contrived middleman" added to the transaction flow by J P Morgan Chase Inc. by using JPMCoin / Blockchain.
Settling the skepticism over JPM Coin
Prasoon Mukherjee

Prasoon Mukherjee

  Dear Ketharaman, Can you explain in detail as how with JP Coin do you see that there is an introduction of a new middleman?  Consider before answering the  following : 1) Difference between permissioned and permissionless blockchain frameworks. And if you are still comparing Bitcoin with this then at some stage u will have to stop doing that. Gen2 of all blockchain frameworks are mostly permissioned and they are being modeled to solve more than one problem.  Which means that not all are looking at the middleman problem only.  2) That not all DLTs are blockchains atall.  For example CoRDA. And in the financial services world you will see more of CoRDA kind of frameworks being adopted to solve, not always the trust issue, but also bigger problems like innefficiecies in settlements and reconciliations. 3) There are more than one use-case of this generic framework and banks (to begin with) are not Investing in this technology  to remove the need of a central guarantor but to solve other problems.  See this has a constructive discussion and not an argument :).  Happy to connect with you on LinkedIn if you want a more detailed conversation surrounding this.  You may also want to study "Project Spunta" to clear some of the perceptions surrounding this.  Regards Prasoon