Christine Lagarde Pits Circle Against JPMorgan in IMF Debate
Decentralized systems are coming for the banks, argued Circle CEO Jeremy Allaire, in a panel Wednesday at the International Monetary Fund.
Quorum, the enterprise blockchain platform developed by mega-bank JPMorgan Chase, is to be acquired by ConsenSys, the Brooklyn-based Ethereum venture studio.
Wells Fargo’s innovation lead says the bank’s new digital cash for internal transfers is faster and more efficient than SWIFT.
The global bank is also “keeping a very close eye” on DeFi, says Umar Farooq, head of JPMorgan’s Onyx blockchain team.
JPMorgan's blockchain-based interbank payments initiative, IIN, has added Deutsche Bank as its latest member, bringing the total to 320 banks.
Dimon believes blockchain is real and is wary of the competition it brings.