Jamie Dimon of JPMorgan Chase was optimistic about the blockchain technology, but he avoided commenting on the cryptocurrency, saying that legal payment apps are "the greatest potential for our business" in an interview published in the issue of July-August of the Harvard Business Review.
When asked about his company's main competitive threat, Dimon, president and CEO of JPMorgan Chase – the largest of the Big Four American banks – identified what he called "new forms of payment". Specifically appointing PayPal, Venmo and Alipay, Dimon said that "these companies are doing a good job of incorporating basic banking services into their chat, social, and shopping experience."
While he did not mention the crypt as a potential destroyer, when asked about his view on cryptocurrency in a subsequent question, Dimon simply replied, "I probably should not say anything else about the cryptocurrency." Dimon argued that the crypt is "not the same thing as gold or fiat curry" "that are" backed by law, police, courts […] [are] not replicable, and there are restrictions on them. "Dimon also called for the" real "blockchain technology – which implies that cryptography is not – saying that JPMorgan is" testing [blockchain] and using it for a lot of things. "
official JPMorgan on the cryptocurrency and Dimon's opinion do not always coincide, both have seen a shift in the last year On September 13, 2017, Dimon would have called Bitcoin a "fraud" during an investor's meeting, over threatening to dismiss any employee who traded Bitcoin on the company's accounts.
A little contrary to what Dimon told the Harvard Business Review in his recent interview, in a SEC statement on February 27, the bank marked the cryptocurrency under the "Competition" subsection of the report, saying it could "put downward pressure on prices and commissions for JPMorgan Chase products and services or it could cause JPMorga n Chase to lose market share ".
In February of this year, an internal JPMorgan report also called cryptocurrencies "the face of the innovative maelstrom around blockchain technology".
When he spoke to Cointelegraph in Davos in January, Dimon took a position more like the one he told Harvard Business, saying he "can not answer", but also claims he is not "skeptical".
In the last few months, however, JPMorgan – and evidently Di mon – are more explicitly released as confidant on the blockchain, with the bank also filing a blockchain patent on May 3rd.
On May 17 JPMorgan announced that it had created and filled a new position as head of the cryptographic resources strategy.