JPMorgan Chase: Bitcoin is the past, RWA (tokenization of traditional assets) is the future
🔥Tyrone Lobban, head of JPMorgan Chase’s blockchain department, said at the recent Digital Asset Summit that the rapid growth of Bitcoin has passed and the future opportunities belong to RWA (tokenization of traditional assets)🔥
1.【Interest in cryptocurrency cools】☃️
Lobban said at the meeting that although cryptocurrency has attracted a large number of investors and users in the past, some customers' interest in it has waned along with market adjustments and bankruptcies. Lobban blamed the decline on interest, saying "some customers don't necessarily want to be involved right now."
2.【Bitcoin’s stability and future prospects】🪙
When it comes to cryptocurrencies, Lobban believes that Bitcoin’s current price stability makes it more like a stablecoin and that the days of huge returns may be over. However, this does not mean that the future of cryptocurrencies is bleak. He said that more interoperable platforms or mechanisms may emerge in the future to support wider applications of cryptocurrency.
3.【Tokenization of traditional financial instruments is more popular with customers】📈
Lobban said that 99.9% of the conversations he has with clients are now about how to tokenize traditional financial instruments, not cryptocurrencies. This shows that traditional financial institutions are gradually moving toward tokenization and focusing on more traditional financial products.
Photo: europeanbusinessreview
