A great irony is emerging in crypto. Two of the world’s largest corporations, Facebook and JPMorgan, are now in the vanguard of adopting a technology that was designed partially to subvert the power of institutions. Just weeks after JPMorgan announced it was launching its own cryptocurrency, the New York Times reported new details about Facebook’s expected launch of a digital token that people could use to transfer funds without having to go through the banking system.
Below, we discuss how Facebook’s choices around how much control to retain over its cryptocurrency could affect the industry as a whole—will it compete with existing blockchains? Plus, we take a look at how a partnership between Coinbase and Circle could soon evolve to include security tokens.