JPMorgan’s Jamie Dimon Praises Defi and Blockchain
The CEO elaborated: “JPMorgan Chase is at the forefront of this innovation. We use a blockchain network called Liink to enable banks to share complex information, and we also use a blockchain to move tokenized U.S. dollar deposits with JPM Coin.” JPMorgan explained that “JPM Coin is a permissioned, shared ledger system that serves as a payment rail and deposit account ledger, enabling participating J.P. Morgan clients to transfer US Dollars held on deposit with J.P. Morgan.” The coin “facilitates real-time value movement, helping to solve common hurdles of traditional cross-border payments,” its website details.We believe there are many uses where a blockchain can replace or improve contracts, data ownership and other enhancements.
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They are worried! Blockchain concept is to basically remove intermediaries like them. He will lose his millions dollars paycheck if bank become obsolete.
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