If you're following the crypto phenomenon for more than two years (that is, before the bull run which made some people sell their houses for Bitcoin at 20k apiece and then live in a van, because, well, hopes) then you remember a guy called Jamie Dimon. This guy has, at the moment, two distinguishable traits: first, he's a savage Bitcoin proponent, and second, he happens to be the head of a US bank called JP Morgan.

Well, today, JP Morgan announced their own cryptocurrency, called the JPM Coin, according to this story by CNBC.

The currency will be pegged to US dollar and it won't be available to all customers, only to a few select ones. It will be primarily used to facilitate cross-border payments in a faster, more secure way.

To cut some slack to the man, he always preached the technology, saying "blockchain is a really nice thing, but I don't get Bitcoin, and neither should you".

So this move brings forward - now, more than ever - a fundamental question about this entire technological revolution. What is more important? The technology, which is easy to replicate, or decentralization, which is not technological, in substance, but social?

For the first time in history technology generates such a profound social change. One that may completely demote banks from the predominant position that they have now, and, potentially, disrupt the notion of the government and country as we have them now.

Just because everybody can create a blockchain now, does that mean Bitcoin is dead? Or alive? Or where, exactly?

What is more important: the mathematical model that allows any centralized structure to build a blockchain, or the decentralized trust that created, during the last 10 years, the first real cross-border, cross-country, transparent, unbreakable, sovereign currency?

It's a very important inflection point, and I believe we should all tread very carefully now. The waters are now muddier than ever.

I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me Hive account@dragosroua.

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