Jamie Dimon, the CEO of JPMorgan, has acknowledged in a letter to the shareholders of the company that blockchain technology and DeFi apps have value:
“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.”
He has also stressed JPMorgan is at the forefront of innovation due to the fact that the bank uses the Liink network, which allows other financial institutions to exchange complex data.
In addition, the company relies on blockchain tech to move tokenized dollar deposits using JPM Coin, the bank’s native token.
Blockchain can replace or enhance various aspects of work in multiple scenarios, including the execution of contracts. However, this technology is still “too expensive or slow,” for some things.