JP Morgan's Ethereum based Qorum project

For those of you unaware, the big news in cryptos the last few days was what JP Morgan CEO Jamie Dimon had to say on BTC. Basically he said it was a "fraud", "not real", and would be shut down by the US government.

This makes complete sense when you realize that Dimon has initiated projects using blockchain including the most recent, Quorum, a program for banks to use smart contracts and share information easily.

More info here: https://www.jpmorgan.com/global/Quorum

Dimon was also CEO of JP Morgan in 2013 when they tried to apply for around 175 patents that used blockchain. They all failed.

Dimon is trying to specifically discredit Bitcoin in order to make Ethereum look like a more appealing option for those wanting to invest in cryptos but don't know much about the current state of things. The more competitive Ethereum gets with Bitcoin, JPM's project Quorum becomes less costly and more efficient, boosting Dimon's popularity among investors. The comments from Dimon are extremely calculated and he knows what he is doing. He didn't become a billionaire by being dumb and uninformed. He is making calculated, strategic comments that make people less likely to put their money in BTC.

Repost from : https://www.reddit.com/r/BitcoinMarkets/comments/6zy4op/jp_morgan_invested_in_blockchain_developed_a/