DNotes Global CEO, Alan Yong Welcomes JPM Coin as a Partial Rail of a Massive Network Essential For Mass Adoption of Digital Currency




At the World Funding Summit in 2017, I took issue with JPMorgan CEO Jamie Dimon’s description of Bitcoin as a fraud. Today, I want to praise Dimon’s company and welcome its new digital currency, JPM Coin, as a partial rail of a massive network essential for mass adoption of digital currency.

I believe that Dimon’s earlier negative comment was an aggressive push back against what he saw as a growing competitive threat to his bank’s business.

As an industry, I wish we would have done better. The ICO craze and rampant scams have given the entire industry a bad name and left it in a depressed state. It will take time to recover. But the game is not over. The technology is ingenious – the issuance of currency, the underpinning blockchain technologies, and the direct global payment network without having to go through a third party are all amazing in our technology revolution.

This is a very exciting new industry with potential equal to or greater than the Internet, in terms of business opportunities, job, and wealth creation.  We are only getting started. Mass adoption may take another ten years. Though there are many challenging hurdles to overcome we will get there. Technologies always evolve and get better. Technologies also tend to get ahead of regulations, but the regulators will catch up.

JPM coin is a solution to many problems confronting our industry. Because of its global dominance in the worldwide movement of money – moving more than $5 trillion in wholesale payments a day – JPMorgan’s participation is significant. From my perspective, they are building an important rail that others like DNotes global can use. We are committed to providing an inclusive trusted digital currency that achieves mass adoption on a global scale, including full participation by women. For more on our efforts to inspire and empower women, check out HERo.

JPM coin utilizes Quorum, a private, permissioned blockchain. It is a closed network, intended to replace or supplement the use of the outdated Swift network which takes a day or two for international cross-border transfer of funds and settlement. JPM coin is a digital token pegged 1:1 to USD. It will initially be used to instantly settle transaction between clients of JPMorgan’s wholesale payments business. Unlike other stable coins, it is not available to retail investors. However, it could play a major role in global commerce in the digital age, where everything that can be digitized will be digitized for the advancement of speed and increased efficiency.

JPM’s direct competitor in this field is Ripple, the third most valuable cryptocurrency with a market value of $12.46 billion. It will impact Ripple’s future growth potential, but I do not see it as an immediate threat. We are at an early formative stage of a new industry and the potential for growth is massive. Moreover, Ripple is a permissionless decentralized system with centralized leadership and management. It is traded on many exchanges and can be owned by any individual.

DNotes, launched on February 18, 2014, has been relentlessly committed to achieving mass adoption as an inclusive trusted digital currency. Gaining mass adoption is the biggest challenge of all, but it will also be the biggest prize for whichever coin can ultimately seize that crown.


The DNotes team has always believed that mass adoption will require a fully integrated ecosystem consisting of many different components. The challenge is made even more complicated by the fact that those components will include decentralized, centralized, and hybrid bridges few are familiar with or fully understand.

By itself, DNotes is a decentralized entity. Once launched, it is autonomous and governed by algorithm. It is leaderless with at-will ownership and cannot be controlled by any individual or group. Its value should not be manipulated and should be left to the free market forces. In a highly efficient market, the true value of the coin will take care of itself over time. DNotes is among the least hyped and undervalued coins in the market today.

Over the last five years, the DNotes team has built an integrated ecosystem with strong emphasis on education, real world applications, and inclusiveness, including participation for women. DNotes Global is the founder of DNotesVault, DECBrief, and the newly launched HERo. It is also the sponsor of DNotesEDU, the creator of DNotesPay and DNotes Trading Bot.

The question all of us should be asking is how we get from where we are today to a future in which cryptocurrency is accepted, adopted, and in common usage everywhere around the world. When we look at the world a decade since Bitcoin’s creation, we see that only minimal progress has been made to achieve that dream of mass adoption. The reality is that mass adoption may not occur for another decade.

When it does, however, the result is going to be truly transformational for everyone around the world. To achieve that massive change, we will need the collaborative effort of many individuals, industry groups, and regulators – as well as companies that share our commitment to creating positive change for the world. For that reason and JPM coin’s potential as an important component of the broader cryptocurrency ecosystem, I extend a warm welcome to JPMorgan’s new digital coin.

Author: Alan Yong

DNotes co-founder Alan Yong is a well-regarded author, tech visionary, and entrepreneur who established Dauphin Technology in 1988.

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