Since Bitcoin was founded, the cryptocurrency has been bashed to hell and back. Yet, the technology behind it has been extolled, especially by financial & political incumbents who wish to handle the reins of the blockchain bull.
A recent interview with JP Morgan’s chair of global research, Joyce Chang, only cemented this theme. Per Bloomberg, which conducted the candid conversation, Chang was hesitant to admit that decentralized (or centralized) ledgers would overhaul the global financial system. However, she made it abundantly clear that the technology is likely to “marginally” improve global ecosystems after a period of around three to five years. The Wall Street researcher added that blockchain technologies are most likely going to see an application in trade finance, noting that the innovation can allow for “high potential gains in efficiency from digitalization.”