Strategy’s recent investments and its money-making program have shaken the economy, but JPMorgan analysts see a major threat to bitcoin: the implementation of a blockchain that runs on public networks and tokens that go up.
In the report led by the director general Nikolaos Panigirtzoglou and report in The Block, The bank said the strategy is not a threat to the economy.
The company sold 3,588 bitcoins for $216 million at the beginning of July to give their preferred dividends, its biggest losses in history, and such sales can increase the pressure of sales. The biggest concern, the inspector said, is to a symbolpayment and settlement termination.
If the operation is based on permissioned rails instead of public chains, the crypto ecosystem could face a deregulation – less liquidity, less money and slower chain growth – a drag that could reach bitcoin in the long run.
Organizations have turned to permissioned blockchains, which provide privacy, know-your-customer and anti-spending controls, governance, outsourcing, legal accountability and legal certainty.
This preference, according to JPMorgan, creates a competitive disadvantage for websites like Ethereum.
The researchers cited the Bank for International Settlements, which has warned against unauthorized human capital chains and instead pushed for “joint ledgers” that hold central bank funds, bank deposits and assets within controlled walls.
Tokenization as a real world problem
Banks are doing this. Tokenized deposits – digital claims on bank accounts, backed by banking regulations and deposit insurance – are more transparent. If such deposits become widespread in the regulatory environment, they can block stablecoins from paying institutions.
The blockchain project of SWIFT and the services of central banks in digital currencies such as digital yuan and digital yuan will promote the process.
Real world facts tell a similar story. The market is close to $ 50 billion, the most of Ethereum at the moment, although experts read that it is an early test rather than a stable one.
As foster care grows, delivery, maintenance and adoption may shift to private services, leaving social chains to be shared and connected. DTCC and Securitize are showing signs of progress, and experts have questioned whether crowdfunding is the best option for managed businesses, given the retention of deferred, fixed income.
Which would prove JPMorgan wrong
The Clarity Acteven if it passes this year, it will not solve the problem; It can strengthen the deposits offered by the bank and destroy the public money.
The researchers pointed out three ways in which their proposal breaks down: a hybrid model where both types are needed, a strong adoption under friendly rules, or a bitcoin that works as it does. “digital gold” and fence everything that happens throughout the crypto community.
