- This topic has 0 replies, 1 voice, and was last updated 4 days, 8 hours ago by NewOutlandishness663.
- Tuesday, November 22nd, 2022 at 01:12 #408417NewOutlandishness663Participant
This is how you know crypto has a serious future. Weren’t these the same banks that were fighting against cryptocurrencies and decentralization? Now they’re joining the party.
Polygon has been integrating so many traditional and Web2 companies and organizations into the blockchain world. These companies range from media (Facebook, Instagram, Twitter), payment services (Paypal, Stripe), fashion brands (Prada, Nike, D&G) and entertainment (Disney, ESPN) and I guess they’re now integrating financial institutions as well.
As part of that plan JP Morgan has now officially registered a cryptocurrency trademark. “JP Morgan Wallet” will be the brand to support virtual currency transfer, exchanges, and cryptocurrency payment processing.
Now while I’m personally not fond of banks, this just goes to show how much of a big deal crypto and blockchain really is.
These financial organizations know for a fact that almost all financial services will become digital and so they realized that blockchain technology will be the logical thing to build on considering how safe it can be from hacks.
Many of us are distrustful of banks (for very obvious reasons) but we can also think of this as a small victory for crypto.
Banking won’t be going away anywhere at least for the short term so might as well onboard all that wealth onto the Web3 space.
Knowing that blockchain technology will be used, for its safety and transparency, as the bridge used to onboard traditional finance onto Web3 is something major and its already happening in front of us right now.
I can not stress how important this news is.
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