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JP Morgan Calls Bitcoin a 'Stablecoin'?

TL;DR

  • OpenSea​ just launched a bunch of new features in what the platform is calling 'OpenSea Studio.'

  • Easy payment processing, basic platform compatibility, 'no code' design, and a user experience that's so intuitive it doesn't require a manual? These are all staples of the ​Web2​ space.

  • Here's what else we would have liked to have seen: A way for creators to program their NFT art/functionality to be removed/paused if a seller lists them on a zero royalty marketplace - and switched back on the moment the NFT is de-listed.

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We just listened to Tyrone Lobban (the head of JP Morgan’s blockchain division) talk at the Digital Asset Summit, so you don’t have to!

The big takeaway from Ty-Lo’s talk?

The traditional financial world ain’t all that excited about crypto…but they are very keen on tokenization!

According to Ty-Lo, 99.9% of his conversations with clients are about tokenized assets, not crypto.

What does that mean?

Crypto = digital currency, tracked using ​blockchain​ technology.

Tokenized assets = traditional investment assets (think: stocks, bonds, and real estate) tracked using blockchain technology.

Which, ok, if the headline here is: “Banker not that into crypto, but keen on making the stuff he already trades more efficient” - it’s not all that surprising.

What came from left field, for us, were his comments on Bitcoin:

“Bitcoin may be more like a ​stablecoin​ nowadays”, and “the days of massive returns on Bitcoin are possibly behind us for a while.”

…which seems like a weird take, right? For an asset like BTC, which has almost doubled year-to-date:

Are we missing something? (See gif).