The CEO of JPMorgan Jamie Dimon acknowledged that blockchain technology and decentralized finance (DeFi) applications have value. He wrote about it in a letter to the company’s shareholders.
“Decentralized finance and blockchain are real. They are new technologies that can be used both privately and publicly, with or without the need for permission.”
Dimon also stressed that JPMorgan is at the forefront of innovation. The bank uses the Liink network, which allows other financial institutions to exchange complex data. In addition, the financial conglomerate uses blockchain to move tokenised dollar deposits via JPM Coin.
In his words, there are many scenarios in which distributed ledger technology could replace or improve various aspects of operations, such as contract execution or data ownership. However, for some tasks the new technology is still “too costly or slow,” the financier believes.
Back in October 2021, Jamie Dimon called Bitcoin “useless.”
In February, JPMorgan unveiled a solution to protect the blockchain from quantum computing, deployed on top of the Liink corporate network.
Follow ForkLog News on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news, infographics and opinions.