Yesterday we get amazing news! JP Morgan created there own “stable coin” to be used interbank to move value around. The XRP community was so excited over this news. We saw the big picture here. The XRP community gets it, we understand what the JPM coin is set out to do. We know this isn’t a rival to XRP, it’s not even close to a rival. What XRP does is 100% different then what JPM coin will do. XRP transfers value cross border between different banks while JPM coin is only good in there bank.
Listen, the JPM coin has 1 job and 1 job only…to move money in between different JP Morgan accounts. That’s it! XRP is set to move money cross border between different institutions. Not just 1 bank, but to settle cross border transactions in between two different banks! JPM coin cannot do this! Think about it like this. You head to your local grocery store to buy a gift card for Starbucks. You load it up, $50 on there. Exciting right?! You are going to be drinking Starbucks coffee for the next week! But what happens if you don’t want a Starbucks coffee? You cant take this Starbucks gift card and head to your local Dunkin Donuts and use it….oh nooooooo that’s not how it works. Your Starbucks card is for Starbucks, end of story. If you want Dunkin Donuts coffee you better have some cash in your hand or a Dunkin Donuts gift card to get that cup of Joe or it looks like your heading right back to Starbucks with that Gift card.
So now that we cleared up what the JPM coin will be used for let’s jump into the FUD that shitty Forbes allows its non paid contributors to post! Let’s start with this IDIOT Billy Bambrough. I am not going to even link his BS article because he doesn’t deserve a backlink to his post but here is the title…The End Of Ripple? I am sure from the title alone you can tell what this is going to be about.
And then here is the best line of them all:
“Ripple, a common name for the XRP digital token” Come on! How does Forbes let this go on? How can a company be a common name for a digital asset? That’s like saying Satoshi a common name for Bitcoin, or Jed a common name for XLM.
After JPM coin was launched the XRP community knew the onslaught was coming from all the bitcoin maxis. We were going to see journalist pop out of the woodworks to try and take a shot at XRP and Ripple and boy did they ever. Everyone wanted to spread the FUD that Ripple was dead, XRP is going to 0, XRP now has no use case and so on. This is far from the truth.
Here comes our opinion on how this is all going to play out.
So you have this JPM coin, but how can JP Morgan send money to a bank in Asia? Not with there JPM Coin. Why not you may ask, well it’s simple. Banks do not want to hold another bank’s stable coin. Banks do not trust other banks. So they need to find a universal currency that can transfer value and do it fast and cheap. This is where XRP comes into play. Every bank out there can make a stable coin, but how will they transfer value across the globe? Not with there stable coins or bank coins whatever you wanna name them. They will need a universal bridge asset. XRP is a universal bridge asset. XRP is the fastest and cheapest option out there. The ILP will connect all banks and their stable coins and transfer value through XRP.
– Before the end of Q2 we will see other major banks announce their stable coins