JPMorgan CEO Jamie Dimon said at the Financial Markets Quality Conference that the bank could be one of the leading users of blockchain technology. Despite Dimon's long-held skepticism towards cryptocurrencies, once calling Bitcoin a "pet rock," he acknowledged that blockchain is "a good way to share data" and build trust between banks and clients.

JPMorgan launched its private network Onyx in 2020, built on Ethereum, for wholesale payments, peer-to-peer lending, and cross-border payments. It has processed over $700 billion in transactions to date, with users including Goldman Sachs, DBS Bank, and BNP Paribas. Dimon also pointed out that while blockchain technology is 12 years old, in his view, its development is still relatively slow compared to artificial intelligence. (The Block)