Cindy Yang | Source | Partner & Team lead of Fintech industry group at Duane Morris LLP

When you think about how many Facebook users there are, you realize it is in some ways a digital nation. So, the idea that they're going to allow people to use Libra as a transactional digital currency within the system, and the idea that people could put in whatever currency they wanted – whether a Euro or a U.S. dollar – it does take that money out of circulation. So that does have inflationary pressure.

One hindrance to official acceptance of blockchain technology so far is that much of its development has been from the bottom up. The limited approach the bank is taking with JPM Coin will also address regulator concerns. This is a cleaner approach. This is an institutional, private system. It's not on the market. It's not bitcoin. The conversation is more concentrated. There's no question of whether it is a security or not.