Following his criticism in regards to the top cryptocurrency, Jamie Dimon Regrets his Bitcoin Comments. Why did the CEO of JP Morgan Chase change his mind?
10 January, AtoZForex – The Chairman and CEO of JP Morgan Chase has been expressing his skeptical opinion in regards to Bitcoin a while ago. In fact, that time, Jamie Dimon has called Bitcoin a “fraud”. However, it appears that the CEO of the US financial giant has changed his mind.
Jamie Dimon Regrets his Bitcoin Comments
In the latest developments, Mr. Dimon has stated that he regrets that moment. He has added:
“The blockchain is real. You can have cryptodollars in yen and stuff like that. ICOs … you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people.”
However, Mr. Dimon has also made it clear that he is not quite interested in the cryptocurrency topic:
“I’m not interested that much in the subject at all.”
In September last year, Jamie Dimon has not only criticized Bitcoin, but also digital currency investors:
“If you’re stupid enough to buy it, you’ll pay the price for it one day.”
JP Morgan Chase endorses Blockchain
As of the moment, industry insiders note how Jamie Dimon has reiterated his positive stance on the Blockchain, the technology that supports Bitcoin.
In fact, the phenomena called Blockchain is aiming to eliminate the need for a third party intervention. It does do by creating a permanent record of all transactions on a network. As a result, a seller and buyer can interact directly and their operation is then recorded on the Blockchain ledger.
In October 2017, JP Morgan Chase has announced the launch of a Blockchain-backed system that will “significantly reduce” the number of parties in the global payments verification process. The same project aims to reduce the transaction times “from weeks to hours.”
Following on this, the Royal Bank of Canada and Australia and New Zealand Banking Group appear as JP Morgan Chase’s partners in this project. The innovative project is called the Interbank Information Network.
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