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JP Morgan files Patent Application for a Bitcoin-like ‘Virtual Cash’ Payment System

Higher the tower, more fingers are raised. After Bitcoin value grew 10-15 times this year itself, Bitcoin has been under the scanner. We even had Alan Greenspan call it a Bubble. There is a big debate whether Bitcoin is a currency or an investment tool as punters and saving classes are investing due to speculation. Ofcourse Bitcoin is back to $910+ levels today, after the recent crash. Amidst all this, one thing is clear that the current system of currency is being questioned again and again and its being felt that it is inefficient. In a surprising (maybe not for some) JP Morgan Chase bank on December 10th 2013, filed for a patent in the U.S to develop a payment system utilizing Virtual Cash. ...

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