Filter icon. Banking magnate Jamie Dimon said in an interview at the Financial Markets Quality Conference on Tuesday that JP Morgan is a real user of blockchain.
Dimon has long been skeptical of #cryptocurrencies and once suggested that the U. S. government should ban digital assets such as #bitcoin .
In an #interview at the Financial Markets Quality Conference on Tuesday, JP Morgan Chase CEO Jamie Dimon said the bank he leads - the largest U. S. bank - will be one of the biggest users of #blockchain technology. He said.
Asked about innovative technologies such as blockchain and artificial intelligence, Dimon said, We are probably one of the biggest users of blockchain, a real user. It's just a database.
However, Dimon, who has long been skeptical of cryptocurrencies and compares bitcoin to a pet rock, is not about to change his attitude toward an industry he calls worthless.
Moreover, the 68-year-old businessman used another favorite phrase. I call it pet rock.
But Dimon seems to have an undisguised respect for the technology behind cryptocurrencies, saying that blockchain is a great way to exchange data and builds trust between banks and their customers.
JP Morgan forked a version of Ethereum in 2020 to create a permission-based private network called Onyx. The system is designed for wholesale payments, peer-to-peer lending and borrowing, and cross-border payments.
Onyx has processed $700 billion in transactions and its users include Goldman Sachs, DBS Bank, and BNP Paribas.
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We've been talking about blockchain for 12 years, but unlike artificial intelligence, not much has happened, Dimon said on Tuesday.
Dimon once told a congressional hearing that if I were the government, he would ban cryptocurrencies.
If Donald Trump wins reelection, Dimon is rumored to be a candidate for Treasury Secretary, but his stance seems to be softening.
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