JPMorgan will use the blockchain “for a number of things”

JPMorgan will use the blockchain “for a number of things”

In an interview for the Harvard Business Review Jamie Dimon of JPMorgan Chase said optimistic about blockchain technology, but declined to comment on the situation with cryptocurrencies.

In particular, he stated that “payment application – the biggest threat to our business.”

Answering the question about the main competitive threat to your company Dimon, CEO of JPMorgan Chase, the largest Bank of America – identified what he called “new forms of payment”. Among the companies he highlighted PayPal, Venmo and Alipay and described their activities as “good job of introducing basic banking services in chat rooms and other places where they interact with customers.”

On a direct question about the cryptocurrency, he said that:

I probably don’t need to talk more about the cryptocurrency.

In his early statements Dimon noted that the cryptocurrency is “not the same as gold or Fiat currencies that are supported by law, police, courts.” He grazdo more optimistic about blockchain technology and stated that JPMorgan “is testing it and will use for many things.”

It is worth noting that the official position of JPMorgan on cryptocurrency and the opinion of the Daimon do not always coincide.

In a report to the SEC on 27 February, the Bank placed cryptocurrencies in the section “Competition”, stating that this technology can lead to “JPMorgan Chase will lose market share”.

In February of this year in an internal report, JPMorgan also called cryptocurrency “the face of innovation around the blockchain technology”.

May 17, JPMorgan announced the introduction of a new post – head of cryptocurrency direction.

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