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JPMorgan CEO Jamie Dimon acknowledged that blockchain technology and decentralized finance (DeFi) applications have value. He wrote about this in a letter to the shareholders of the company:
“Decentralized finance and blockchain are real. These are new technologies that can be used both privately and publicly, with the need to obtain permission or not.”
Dimon also stressed that JPMorgan is at the forefront of innovation. The bank uses the Liink network, which allows other financial institutions to exchange complex data. In addition, the financial conglomerate is using blockchain to move tokenized dollar deposits using JPM Coin.
There are many scenarios where distributed ledger technology can replace or enhance various aspects of work, such as executing contracts or owning data, he says. However, for some tasks, the new technology is still “too expensive or slow,” the financier is sure.
Recall that back in October 2021, Jamie Dimon called bitcoin “useless”.
In February, JPMorgan unveiled a solution to protect the blockchain from quantum computing, deployed on top of the Liink corporate network.
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