The International Business Times reports that JP Morgan’s long-rumored bitcoin clone, informally dubbed “web cash,” has once again been denied a U.S. patent. The system, described as a “method and system for processing internet payments using the electronic funds transfer network,” was originally submitted for patent consideration in August of last year. Unconfirmed reports by […]

In a report released today, investment banking giant J.P. Morgan examined the recent “saga” of troubled Bitcoin exchange Mt.Gox. Authored by Morgan’s head of foreign exchange strategy, John Normand, the one-page report is a follow-up to their more general profile on Bitcoin released earlier this month. The contents of the report itself seem to be […]

In a report released yesterday, J.P. Morgan’s head of foreign exchange strategy, John Normand, expressed a deeply critical view of Bitcoin and other digital currencies. The eight-page report examined the “risks and opportunities” of investment in cryptocurrencies, citing many significant concerns for large-scale bank investment. In particular, Normand believes that Bitcoin is “vastly inferior to […]