JPM Coin's closed structure, restricting the token to existing J.P. Morgan clients, is an anachronism, because closed ecosystems are unsustainable in emerging decentralized commerce.
Source quote, verbatim
The close structure of the JPM coin, e.g. JPM makes it only available to existing clients, appears to be an anachronism.95 Closed ecosystems are unsustainable in the emerging decentralized commerce.
From
Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019), III. Transition to Digital Currencies Started, 2. Early Experimentation, p. 21 https://ssrn.com/abstract=3396522 · source PDF
Cite as
Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522
Holds when
applies to permissioned stable cryptocurrencies limited to a single institution's clients
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