JP Morgan CEO Jamie Dimon Says Bank Will Use Blockchain for a “Whole Lot of Things”

Jamie Dimon, the CEO of New York based American multinational investment bank JP Morgan is no stranger to cryptocurrency controversy.

However, in an interview published in the current issue of the much respected Harvard Business Review (HBR), Dimon refrained from commenting on cryptos for once, and instead chose to applaud blockchain technology while referring to fiat payment apps as “the biggest potential disruption to our business.”

In the interview, Dimon said blockchain technologies were “real”-a characterization that is being viewed in some circles as a subtle jab at cryptos which he regard as valueless.

During the interview which was featured in the July-August issue of the HBR, Dimon disclosed that the bank which is the fourth biggest in the US is “testing it [blockchain] and will use it for a whole lot of things.”

Just little less than a year ago, Dimon was quoted telling an investors meeting that Bitcoin was a “fraud.” He was alleged to have said that he would terminate the services of any employee who used the bank’s accounts to trade in the crypto.

However, there appears to be a difference between Dimon’s hard-line position on Bitcoin and cryptos in general and that of his employer. An internal memo released by the bank six months ago referred to cryptocurrencies as the “face of the innovative maelstrom around the blockchain technology.”

The bank has followed that position with a filing of a blockchain related patent last May. Later in that same month, the bank announced that it had created a new position for head of crypto assets strategy. The announcement also revealed that the bank had already recruited an individual for the position.