“A whole new set of competitors is emerging based on blockchain," said Dimon in his annual letter to shareholders. Jamie Dimon warned that blockchain-based technologies such as tokenization, stablecoins and smart contracts are emerging as direct competitors to traditional banking and could fundamentally change core functions like payments, trading and asset management. He said JPMorgan must accelerate its own blockchain efforts, including its Kinexys unit and JPM Coin, as faster, tokenized syst…
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