Cryptocurrency Development

Goals

To find examples of companies that are creating their own cryptocurrency and/or digital asset wallets that allow them to accept and trade in cryptocurrency whether decentralized like Bitcoin or centralized like JPM Coin.

Early Findings

  • The MUFG coin was created by Mitsubishi UFJ Financial Group and is set to be released later this year. The bank is expected to be the first Japanese bank to issue a virtual currency.
  • JPMorgan issued its own cryptocurrency this year dubbed JPM Coin.
  • Arias Intel Corp, a technology, media, and mobile gaming company, announced in 2018 that it was developing its own cryptocurrency called iNEO.
  • In 2018, AirAsia announced that it was converting its frequent flyer rewards program over to a cryptocurrency platform called BigCoin.
  • Facebook, in conjunction with Libra Associates, has released a cryptocurrency called Libra.
  • Rakuten, dubbed the "Japanese Amazon," has announced that it will be releasing a cryptocurrency called RakutenCoin.
  • Companies that are reportedly either creating their own cryptocurrency or exploring the idea include Walmart, Amazon, Tencent, and Google.

Proposed next steps:

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Our intitial research indicates that, while there are quite a few companies that are exploring the idea of creating their own cryptocurrency, very few actually have. We propose further research exploring the ten companies that have been identified to determine the details on their cryptocurrency plans including when the cryptocurrency was/will be released, whether it is/will be centralized or decentralized, and any other relevant information about the coin.
In addition, we found that there is a lot of speculation from industry experts on the industries and companies that may be looking to enter the cryptocurrency sector. Therefore, we propose further research to discover what these experts are saying and predicting regarding companies creating their own cryptocurrency or digital asset wallets.