Head of JPMorgan Chase Block: If the Fed launches digital currency, it is willing to "kill" JPM Coin

According to Business Times, Umar Farooq, head of digital finance services and blockchain at JPMorgan Chase, said that if the Fed launches its own digital currency, he would be willing to "kill" JP Morgan's currency (JPM Coin). Having said that, Farooq added that it (the Fed's digital currency) must be "designed", otherwise it may lead to the current commercial banking system at risk.