2 years ago
Jamie Dimon, the CEO of JPMorgan Chase, says that helium does not peculiarly similar crypto but volition support your close to put successful it. However, helium sees benefits successful immoderate aspects of integer currency.
JPMorgan’s Jamie Dimon connected Crypto, Digital Currency
JPMorgan Chase CEO Jamie Dimon talked astir cryptocurrency successful an interrogation with KMTV 3 News Now successful Omaha Friday up of the Berkshire Hathaway yearly shareholders gathering this weekend.
Commenting connected cryptocurrency, including bitcoin, the JPMorgan brag said:
I ever accidental I don’t peculiarly similar it. I support your close to bash it. I’d accidental beryllium very, precise cautious however overmuch wealth you enactment into it.
However, Dimon sees benefits successful immoderate aspects of crypto, specified arsenic its technology, admitting that the banking manufacture has its inefficiencies. The enforcement opined:
Not each of it is bad. If you said to maine ‘I privation to nonstop $200 to a person successful a overseas country,’ that could instrumentality you 2 weeks and outgo you $40. You could bash it done a integer currency and it’ll instrumentality you seconds.
“So, it’ll enactment out. I deliberation it volition beryllium adopted implicit clip by tons of players retired there, including banks,” helium concluded. However, helium did not specify whether helium is referring to cryptocurrencies, stablecoins, cardinal slope integer currencies (CBDCs), oregon his ain JPM Coin.
JPMorgan Chase has its ain integer currency called JPM Coin. Dimon antecedently described: “We usage a blockchain web called Liink to alteration banks to stock analyzable information, and we besides usage a blockchain to determination tokenized U.S. dollar deposits with JPM Coin.” The JPM Coin website states that the coin “facilitates real-time worth movement, helping to lick communal hurdles of accepted cross-border payments.”
Dimon has agelong been a bitcoin and crypto skeptic. In November past year, helium warned radical to beryllium cautious erstwhile investing successful crypto citing that it has nary intrinsic value. In October, helium said bitcoin was worthless and questioned its constricted supply.
Meanwhile, helium said successful his April missive to shareholders that decentralized concern (defi) and blockchain are real. In addition, JPMorgan is present offering a fig of crypto concern products.
What bash you deliberation astir Jamie Dimon’s comments? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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