Quantcast

JPMorgan CEO - DeFi and Blockchain "are real"

Article Image
Photo by Hunters Race / Unsplash

Investment bank JPMorgan says that decentralized finance (DeFi) and blockchain technology will bring major growth potential to the economy. The Wall Street investment bank is determined to remain "at the forefront of this innovation", wrote CEO Jamie Dimon to the bank's shareholders.

"Decentralized finance and blockchain are real, new technologies that can be deployed in both public and private fashion, permissioned or not, Dimon said.

The payments of eight out of the biggest 10 global tech companies are processed by JPMorgan, which is an increase of 60% compared to five years ago.

Dimon stated the bank's management shares the belief that "there are many uses where a blockchain can replace or improve contracts, data ownership and other enhancements; for some purposes, however, it is currently too expensive or too slow to be deployed.

This comes after last October, the CEO said that Bitcoin and other top cryptocurrencies are "worthless".

Disclaimer:

Opinions expressed at Vestorportal.com are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. Vestorportal.com does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is Vestorportal.com an investment advisor. Please note that Vestorportal.com participates in affiliate marketing.

Support us:

BTC-(BTC): bc1qrja84qhn7299lmad79ch7flnca0lyq0alp6pdv

ETH-(ERC20): 0xEC06cbAfF0261e6Da0122Ae579a641B3e2303523