Jamie Dimon says, he regrets calling Bitcoin a Fraud and believes in Blockchain Technology

Nishanth Shetty

Nishanth Shetty

January 10, 2018 6:29 am

Jamie Dimon says, he regrets calling Bitcoin a Fraud and believes in Blockchain Technology | Coindelite News
4168 Total Views

Bitcoin News

  • J.P. Morgan Chase CEO told that he disapproves calling bitcoin a fraud.
  • Dimon is concerned regarding how governments will feel about bitcoin when it becomes huge.

 

Jamie Dimon is changing his reviews on cryptocurrencies a bit as he had before. In September, he called Bitcoin a fraud and this Tuesday on Fox Business he explained: “I regret making that comment”.

Dimon Described:

“The blockchain is real, you can have cryptodollars in yen and stuff like that. ICOs, you got to look at everyone individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people.”

He included that, he is not much interested in the topic at all. Along with his last year’s fraud comment, he had also warned investors who invest in bitcoin and other cryptocurrencies.

Along with his earlier bitcoin is a “fraud” statement the executive also blasted digital currency investors last year.

In October at Institute of International Finance conference he told, “If you’re stupid enough to buy it, you’ll pay the price for it one day.”

It is remarkable how the CEO repeated his positive stance on the blockchain technology supporting bitcoin.

Through using the Blockchain technology, there is no necessity of third-party for making the permanent open record of all transaction which takes place on the network. Here, a buyer and the seller can interact directly and their exchange will be recorded in the blockchain ledger.

In October 2017, J.P Morgan Chase declared the launch of a blockchain-based system which will decrease the number of parties required to verify the global payments and it is also used o reduce the transaction durations from weeks to the hours. This project has collaborated with Australia and New Zealand Banking Group, Royal Bank of Canda which is called as Interbank Information Network.

No Comments
DAPPS to be Used by Messaging company Line on its Own Blockchain

Messaging Giant Line to Use Dapps for its Own Blockchain Technology Line, the Japan-based messaging app firm, has planned to build a custom blockchain which has set its goal to boost development of decentralized apps for its platform. The news was spread all over while the company, a subsidiary of …

The Blockchain isn’t a Privacy Solution says, Amber Baldet

JPMorgan Blockchain Lead comments about Blockchain Privacy Solution Amber Baldet, the former JPMorgan blockchain lead commented that Blockchain “maximalism” would not solve internet privacy concerns, on Monday during a talk on the “Internet of Value” and delivered to MIT Technology Review’s Business of Blockchain conference. During the talk, she explained: …

Police Official Arrested for Bitcoin Extortion Case in India

Indian Police Arrested for being Involved with $1 million Bitcoin Theft scheme According to the recent reports, another popular police official in the Indian state of Gujarat has arrested for being in connect with $1 million bitcoin theft scheme. Hindustan Times reported,  Amreli police director Jagdish Patel was arrested Sunday …

CFTC Chairman Shows Mistrust towards Ethereum and Ripple currencies

Gary Gensler Shows Skepticism towards Ethereum and Ripple currencies Ripple and Ethereum, the most valuable altcoins are most likely “noncompliant securities” alleges a former markets regulator. The former head of CFTC (Commodity Futures Trading Commission), Gary Gensler, states that according to him, Ripple and Ethereum are “noncompliant securities” and are …

Bitcoin is Vast than the Industrial Revolution says, Tim Draper

Tim Draper says Bitcoin is Larger than any other Industrial Revolution American venture capital investor and Blockchain industry influencer Tim Draper insisted that Bitcoin (BTC) is “bigger than the internet,” and some other significant developments in human history, during the Intelligence Squared US debate in New York City this Saturday. …

National Bank of Dubai Implements Blockchain Tech To Prevent Check Fraud

Blockchain Technology implemented by National Bank of Dubai to Prevent Check Fraud On 21st April a Local News reported, the National Bank of Dubai (NBD) one of the biggest bank groups in the Middle East by volume, become the first bank in the region to execute Blockchain Technology in a …

Press Release

shares