If you are going to have centralized control of the block-chain, then very little has been acheived.
However I do think for many non-banking businesses, this will be the first model they will feel safe enough to dip into. A fundamental business problem with crypto is that you dont need to know who is on the other end of a transaction; that could cause problems with breaching anti-money laundering and other rules like OFAC.
Its a preogression, in time businesses will learn that JPCoin and all the others are just another way for banks to retain power and control, and they will transition to decentralised coins, but dont hold your breath, I reckon it could take 10-30 years to get there.
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