ConsenSys’ catchy headline which bluntly claims financial powerhouse, JP Morgan is now using Ethereum (ETH) has risen more than a few eyebrows.
Partial Truth is no Truth?
Withholding important information to deliver an adulterated message is just as worse as a lie, the lines between them are blurry: the lines involving ConsenSys clinical headline might just be blurrier.
“J.P. Morgan is using Ethereum to launch a digital U.S. dollar.” True. But not true. Not true at all. How is Ethereum and JP Morgan even related? But the catchiest of headlines must suggest shocking assumptions that pushes you to read. The problem only magnifies itself when you do not read the article, the headline gives you an adulterated but summarized information that sticks to your brain: One of the biggest banks in the world in JP Morgan now uses Ethereum.
Blame it on the author when upon opening the article you find out by Ethereum, he means Quorum. You are immediately puzzled; what is the relationship between Quorum and Ethereum besides the fact that both end with letters ‘u’ and ‘m’? Well, absolutely nothing; except for the fact that Quorum is based on Ethereum. The comparison ends there however, Quorum is not dependent or affiliated with Ethereum. In fact, bitcoin might have more in common with ETH than Quorum would ever muster. Both BTC and ETH are public block chains and have their own miners, Quorum is a completely different deal.
JP Morgan describes their ‘new technology’ (Quorum) as an ‘enterprise-focused version of Ethereum.’ Beyond that the relationship fails to hold water, Quorum has its own networks and nodes and permission requirements and definitely has no miners: which keeps one wondering why Andrew Keys, Co-Founder of ConsenSys Capital had to dig up old bones that did not add up but still screamed attention.
For one, Andrew Keys’ well-written news that seems to desperately call attention to Ethereum via JP Morgan’s persistent foray into the world of blockchain technology is just as stale as the now tepid repetition of the word ‘bear market.’
JP Morgan’s integration of Quorum dates back to the last quarter of last year and one must applaud Keys for making Ethereum and ConsenSys relevant again in what has been an absolutely boring month for Ethereum. JP Morgan’s embrace of blockchain technology might be stale from crypto optimism, but Keys article still remains unmoved with its misleading headline: “J.P. Morgan is using Ethereum to launch a digital U.S. dollar.”
And who is to say it is not true?