JPMorgan CEO Jamie Dimon claims that even though he doubts the viability of bitcoin as currency, he is intrigued by the blockchain technology and believes that it may reshape the global financial system.

Like many other large banks, JPMorgan prioritises security aspects and has a dedicated group of security experts exploring the blockchain technology and decentralised electronic ledgers. “I think most of the banks do at this point,” said Mr. Dimon.

During a Q&A session at the Barclays Global Financial Services Conference in New York, Jamie Dimon maintained his view that bitcoin could not succeed as a currency since governments would not tolerate money they could not control. However, he stated that JPMorgan was studying the potential for blockchains to track ownership of financial assets such as loans.

Earlier, he admitted viewing the emerging technology as a potential competitor and even a threat but acknowledged the financial giant’s eagerness to compete. Although today's news showed that some big banks were not ready for a fair competition.

During a Q&A session at the Barclays Global Financial Services Conference in New York Jamie Dimon said that he had meetings with some blockchain companies as well as with the Digital Asset Holdings CEO Blythe Masters, ex-president of the JPMorgan’s investment bank.


Maria Rudina