JPMorgan CEO recognizes the value of blockchain and DeFi
Jamie Dimon wrote about this in a letter to the company’s shareholders
06.04.2022 - 10:10
251
1 min
0
What’s new? Jamie Dimon, CEO of JPMorgan Chase & Co, a US financial conglomerate, believes that blockchain and decentralized finance (DeFi) can improve various aspects of banking. He made such a statement in a letter to the bank’s shareholders.
The full version of the letter to JPMorgan’s shareholders
What theses did Dimon give? There are now many areas where blockchain can replace or improve contract execution and data ownership, but for some purposes, it is often too expensive and slow to use. Despite this, decentralized finance and blockchain “are real, new technologies that can be deployed in both public and private fashion, permissioned or not.”
The CEO of JPMorgan also noted that the company is at the forefront of these innovations. The holding company uses a blockchain called Link to exchange information between banks and its own asset JPM Coin to move tokenized US dollar deposits.
JPMorgan Chase & Co is one of the largest US financial holdings. Its core businesses include investments, commercial banking, asset management, and transaction execution.
Useful material?
Market
Users who have experienced withdrawal problems in the last two days will be eligible to participate
Mar 28, 2024
Market
Last July, a criminal investigation into the exchange was opened by the US authorities
Mar 27, 2024
Market
The unrealized profit from the deal was $8,9 million
Mar 26, 2024
Incidents
The phasing out began on March 25
Mar 25, 2024
Crypto regulations
The new measures must go through additional stages of approval
Mar 25, 2024
Incidents
The popularity of this kind of project launch format has already led to blockchain overload
Mar 20, 2024