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Martin Chorzempa's avatar

If it's centralized like this, then why is any blockchain required? Why other than PR is a coin necessary? Couldn't they just offer intraday repo as a service, with the treasuries in custody and bank deposits instead of JPM coin on the other end? If this is the future of crypto, then I'm wracking my head trying to figure out why it should exist...

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Tycho's avatar

Not sure how this blockchain based repo is different from a repo using a centralised database. The blockchain is built by the JP Morgan owned Onyx team and I assume JP Morgan is the only one running nodes. I don't understand why anyone would use a blockchain when it adds no value of decentralisation. This seems like a nice PoC but nothing more

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