Cryptos will ultimately replace the banks, right? Wrong. At least not according to one executive at JPMorgan Chase. The traditional banking industry is so intertwined with society that it’s practically impossible to uproot, he believes.
Banks haven’t been the most enthusiastic when it comes to cryptos. Jamie Dimon, the JPMorgan CEO has long held the belief that cryptos are a scam. The Bank for International Settlements has also stated in no uncertain terms that cryptos don’t qualify as currencies. This is no surprise, however. What caught us by surprise was when JPMorgan, the largest bank in the U.S, and the very bank Dimon heads, announced their own crypto.