JP Morgan’s patent on MorganCoin vs Bitcoin

Keen to hear what bitcoin sceptics and advocates think of JP Morgan’s latest patent application on a payment system which looks a lot like bitcoin (stories on FT and CNN). Β As much as I love bitcoin technology as perhaps the simplest way I’ve ever moved money from one country to another (literally like sending an e-mail), big banks, governments, and even Apple have seemed more reluctant to make use of it, leaving many of us with far more expensive options like PayPal (which I before argued makes moving money as expensive as moving barrels of crude oil).

I did not want to spend too much time on either this post on trying to edit old John Pierpont’s photo for it, but am curiously watching how MorganCoin develops alongside its open source inspiration, I certainly hope it will be easier and cheaper than credit cards…


Disclaimer: the author owns shares in JPMorganChase (NYSE: JPM).