"Microsoft, JP Morgan, and Intel are building a financial app together within the Ethereum network"
No they aren't. They just took ethereum platform and building own networks on it.
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"Microsoft, JP Morgan, and Intel are building a financial app together within the Ethereum network"
No they aren't. They just took ethereum platform and building own networks on it.
Lol that's what I call an Ethereum application. Some of you people nitpick everything.
It's like you would call litecoin and all other forks of bitcoin, a bitcoin lol. They are seperate entities, same with ethereum used by people and all this companies.
was Litecoin built on top of Bitcoin?
Your terminology is inaccurate/wrong. Most coins are forks of bitcoin, not "built on top of". If you don't know what a fork is, i suggest you learn about Free Software. Most of this cryptocurrency stufff is built using Free Software, even if you wouldn't know it based on all the catering to corps, banks and slaveware platforms(windows, mac).
the linked article uses a bunch of vague terms, instead of being clear about what happened, but seems to be saying that these corps forked the ethereum platform and have made generalized promises to "work with"(grease the palms of?) the ethereum devs as part of their consortium. the MIT style licenses shamelessly allow companies to take the code for free and then make their versions closed source(leach) if they want to. Projects like ethereum pick this license specifically so that their code will be adopted by these slimey corps and any other leaches who want to lock up Free Software(as in freedom) behind closed doors. This may be why @halfik in being "so picky". The truth needs to be known and the article you linked to purposely tries to gloss over what's really happening here. Your post does too, though i don't think your's was intentional. These big, dumb, caveman stomping dinosaurs are now able to make themselves more modern, efficient and relevant without having to have even pitched in for the development of the platform or without having to give their new code back to the community/people.
Yes there will be some scams... but there's some pretty cool things being built on a Ethereum.
You don't need a blockchain to scam people.