Jamie Dimon On Distributed Ledger In JPMorgan

August 7, 2018

Jamie Dimon, CEO at US-based financial company JPMorgan Chaise, has declared, the company and he himself are quite positive about the distributed ledger technology and crypto sector in general.

In one of his recent interviews he was asked on the main competitive risks to his company which is at the lead among bank organizations in the US. Jamie Dimon noted that it is innovative payment means like “PayPal” and “AliPay” that are of major concern for him. According to the JPMorgan Chaise chief, these services successfully integrate the basic bank products in their platforms.

Nonetheless Dimon is convinced, digital currencies today have no such a potential so we all must not regard Bitcoin, Ethereum and altcoins an alternative to gold or conventional money backed by legislation of various states. Digital money cannot be used around the world as they are too confined both technically and legally. Bu the technology of distribute ledger, as Dimon sees it, is the most crucial innovation since the birth of Internet and it needs to be integrated in the financial sector soon. He added that the company has been studying the ways to do so in JPMorgan.

Noteworthy is that the company itself said in its February report, digital currencies threaten the prices of goods and services of the banking organization which may cause JPMorgan losing its share on the market.

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