[seppin]

Nope you can't, unless you can convince everyone else that "thing" is just as good, and can be exchanged for USD at any time, which it can't.

[yingw787]

I mean I can't, but JPM might be able to. JPM's an organization with enough significance to the financial system that they (IMHO) could conceivably make people accept one truth that 1 JPM coin == 1 USD.

And it is. Until it isn't.

[seppin]

Best case scenario is that they convince people to treat their thing with value in their sandbox to reduce fees and improve performance for a specific business case (B-2-B payments for example). Or in the case of JPM Coin, they back it with deposits and no value trust is needed. Just limited application.

Think like Disney bucks, but a larger scale.