TechFlow news, JPMorgan CEO Jamie Dimon said at the Financial Markets Quality Conference that his bank could be one of the largest practical users of blockchain technology. Dimon described blockchain as "just a database," but acknowledged it is "a good way to share data and build trust."
Nonetheless, Dimon maintained his skepticism toward cryptocurrencies, once again likening them to "pet rocks." JPMorgan created a private permissioned network called Onyx based on Ethereum in 2020, used for wholesale payment transactions, peer-to-peer lending, and cross-border payments. The network has processed over $700 billion in transactions.
Dimon stated that while JPMorgan is unlikely to offer loans against cryptocurrencies, customers might access certain crypto services through the bank.
