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JPMorgan CEO Acknowledges Blockchain Value, But Remains Skeptical of Cryptocurrencies

Article is form Jinse
September 17, 2024
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JPMorgan CEO Jamie Dimon Sees Blockchain as "Big User" Despite Past Skepticism

JPMorgan CEO Jamie Dimon, at the Financial Markets Quality Conference, stated that the bank could be a "big user" of blockchain technology. Despite his long-held skepticism about cryptocurrencies, even calling Bitcoin a "pet rock", Dimon acknowledged the value of blockchain as a way "to share data and build trust."

JPMorgan launched its private network Onyx, based on Ethereum, in 2020. This network has processed over $700 billion in transactions for wholesale payments, peer-to-peer lending, and cross-border payments.

While noting that blockchain technology is already 12 years old, Dimon believes it's still developing slowly compared to advancements in artificial intelligence.

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