News Fix: Software Startups Take Over, Florida Moves Closer To Legalizing Smokable Medical Marijuana

Crypto

JPMorgan Chase just unveiled its own cryptocurrency – the “JPM Coin.” JPMorgan envisions three use cases for its new coin – real-time settlement of international payments for large corporate clients (which can take days using current tech), securities transactions settlements in real time and a way for large businesses to consolidate cash holdings rather than storing them in subsidiaries across the world (CNBC).

Naturally, the crypto community rolled its collective eyes and mocked JPMorgan for its new coin. After all, JPMorgan CEO Jamie Dimon has been a staunch bitcoin critic (here’s a great timeline of his criticisms).

But the crypto community should slow its roll (just a little bit). The Fix was on the front lines of the internet revolution in the mid-’90s. And we remember when Time Warner (through Pathfinder) and Barnes & Noble tried to crush the competition with their own web products. It didn’t work. But it gave the internet and the web mainstream credibility. And that was really important in terms of driving adoption.

If you want to know how important, just watch the Today show try to explain the internet in 1994.

Believe it or not, crypto is like the internet in 1994. And JPMorgan getting into crypto will help mainstream it – even if it eventually fails because it’s being run by greedy hypocrites.

One other crypto item of note: Initial coin offerings are doing well over in Europe (Bloomberg). Hopefully the SEC will take note and do something about it (the Fix isn’t holding its breath, though).

Startups

If you’re a startup in Florida, you might want to consider asking DeepWork Capital for funding. DeepWork Capital has invested more in Florida startups than any other venture fund, according to CB Insights (Orlando Sentinel).

Cable giant Comcast is trying to plug into the startup world with a new accelerator program. It’s going to pick up to 12 companies to participate in the 13-week program that ends with a giant pitch fest to top investors and business leaders (Light Reading).

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