Jamie Dimon’s optimistic view on blockchain technology has continued to increase the more, regardless of the current poor performance of cryptocurrencies
However, it can be clearly seen in his words that he is not in support of the current development in the industry “fiat payment apps” as he called it “the biggest potential disruption to his business”.
The CEO of JP Morgan Chase Bank said his greatest fear lies in what he calls “new forms of payment” specifically talking about PayPal, Venmo and Alipay. He continued by saying the above listed business organizations are really doing their job well in their area of specialization, the banking services, social activities and shopping experience, respectively.
When asked to state his view on cryptocurrency, Dimon simply replied
“I probably shouldn’t say any more about cryptocurrency as it is not same with Gold or fiat currencies which are already recognized by law, police, courts”.
He went further to call blockchain technology “real”, seeing crypto itself as not. Finally, concluded by saying that his firm is still trying to put blockchain to test and will most definitely use it for a whole lot of things.
This is however contrary to what Dimon had said on Sept 13th 2017, where he called the technology a “fraud”, specifically he was calling bitcoin a fraud. That same year, he even threatened to fire any worker of his, that uses the company’s account to engage in any crypto trading activities.
Everything changed this year, following the report from JP Morgan internal agent early this year Feb, as he called cryptocurrencies “the face of the innovative maelstrom around the blockchain technology”.