In the internal report of J. P. Morgan, which was published on 8 February cryptocurrency called “innovation cycle” around blockchain technology that are unlikely to disappear in the near future.
If to believe this document, Gignac the financial world is optimistic towards the cryptocurrency.
Cryptocurrency is an innovative whirl around blockchain technology, which is characterized as a high degree of volatility and constant testing of new products.
Despite the mixed tone of the document, it feels more optimistic view on cryptocurrencies than the one that the company aired in their public statements in the last six months.
JPMorgan Executive summary of cryptocurrency:1. Cryptocurrencies are unlikely to disappear, here to stay.2. Cryptocurrencies are the face of the blockchain (echoing similar sentiment as CFTC chairman: cannot seperate from the blockchain cryptocurrency.https://t.co/2RI3Sv1x0L— Joseph Young (@iamjosephyoung) February 10, 2018
In September 2017, the General Director of J. P. Morgan Jamie Dimon was famous because of what he described bitcoin as “a fraud” that according to many analysts, led to more fluctuation in market prices.
Subsequently, Dimon said he “is no longer going to talk about bitcoins”, but then, last month, publicly admitted his initial characterization incorrect.
In an interview with Cointelegraph at the world economic forum in January 2018, Dimon flatly denied the idea that he was skeptical towards bitcoin.
A recently published report suggests that cryptocurrencies can be more effective than the usual tools in many financial areas.
Crypto-currencies are unlikely to disappear and is likely to continue its existence in one form or another, as they are in demand by those who want more decentralization and peer networks and anonymity, even if the latter is under threat.
The underlying technology of cryptocurrency may have greatest application in those areas where current payment systems do their tasks badly or not quickly enough, for example, to carry out international transfers, financing system using tokens, as well as other innovative projects.