JP Morgan‘s CEO Jamie Dimon famously called Bitcoin a fraud a few years back. But his attitude to blockchain has been far warmer. At this week’s SIBOS banking conference, his enthusiasm for blockchain seemed muted, especially in comparison to his opinions about cloud and Artificial Intelligence (AI). Talking about blockchain, he stated there has been “very little effective use of it”.
The biggest U.S. bank recently offloaded its Quorum enterprise blockchain to Ethereum technology firm ConsenSys, but it still has significant blockchain interests. These include the JPM Coin tokenized payments initiative and the Interbank Information Network (IIN), a payment messaging network with more than 400 banks that helps with cross border payments compliance.
To put Dimon’s quote in context, here’s what he had to say in full about blockchain at SIBOS:
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