Blockchain may lead to faster and more efficient payment solutions, JPMorgan’s Karpovich says66

JPMorgan's Global Head of eCommerce Solutions Ron Karpovich said in his interview with CNBC’s Squawk Box he believes there is a partnership rather than competition between crypto disruptors and financial institutions. In his point of view, crypto disruptors always need to use banks to move funds. Since the banking sector does not have large margins, it is extremely important to be efficient, which has also led to consolidation of the space, he said.

He notes that doesn't necessarily mean the banking sector has warmed up to cryptocurrencies, pointing out “there’s a difference between trading a cryptocurrency that’s in the market that’s ubiquitous versus using the technology to enhance your payments infrastructure.”

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