With JP Morgan and Google turning up the heat in the blockchain space, they are well on their way to calling the shots in the crypto industry. It has some in the field sounding the alarm as these old-line powerhouses set about defining what is to come.
Traditional Giants Enter the Blockchain Arena
CoinDesk reports that for all the talk of disruption, many people in the business don’t yet realize how far the likes of Google and JP Morgan have already come. Backed by a level of resources no upstart can match, they are quietly but effectively building out the kind of sophisticated blockchain infrastructure that will put them in a class of their own.
JP Morgan’s Connexus Platform and Google’s Capabilities
With the introduction of Connexus, a platform designed for handling digital assets, JP Morgan has put its money where its mouth is. Google is involved as well, putting its vast tech resources to work on new blockchain projects. It is more than a case of trial and error; in the words of CoinDesk, both firms are in the process of defining what comes next for the crypto industry.
Implications for Existing Crypto Players
There is a lot of in-fighting for market share among the crypto set, as CoinDesk has been reporting. But while all eyes are on that, the methodical push by JP Morgan and Google could be flying under the radar. They have already put down some roots, and it is only a matter of time before they make their presence felt in a way that upends the status quo. For the older guard in the industry, they will be rivals to watch, with the power to change the rules of the game.
Source — CoinDesk: https://www.youtube.com/watch?v=3_mbkRx47l4
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