JPMorgan Chase CEO Jamie Dimon stated blockchain may have a pivotal position in the way forward for finance even when bitcoin, the market-leading c
JPMorgan Chase CEO Jamie Dimon stated blockchain may have a pivotal position in the way forward for finance even when bitcoin, the market-leading cryptocurrency that made blockchain well-known, isn’t his “cup of tea.”
Talking on the New York Instances’ DealBook Convention Wednesday, Dimon reiterated JPMorgan’s help for blockchain expertise as a probably transformative monetary mechanism.
“The blockchain itself shall be important to letting individuals transfer cash all over the world cheaper,” he stated. (His financial institution made waves not too long ago with the launch of its “JPM Coin” for wholesale banking funds). “We are going to all the time help blockchain expertise.”
However Dimon refused to offer floor on his opposition to bitcoin.
He repeated his longstanding perception that governments will finally extra closely regulate it (one thing echoed not too long ago by fellow billionaire Ray Dalio). Oversight is inevitable for one thing so massive, he stated.
Even so, Dimon acknowledged that “very sensible individuals” are shopping for into the cryptocurrency below the idea that it’s going to outperform gold, the U.S. greenback and U.S. Treasuries.
“Allow them to try this,” he stated. “It’s simply not my cup of tea.”