JPMorgan CEO Jamie Dimon has reiterated his negative stance on Bitcoin (BTC), stressing that he does not really care about the cryptocurrency. Dimon spoke on the subject in an interview with CNBC's Squawk Box on Jan. 23. When asked if he was pleased with Bitcoin’s collapse in 2018, Dimon stated that he was not, noting that multiple media outlets have over-reported his sceptical comments. The CEO argued that he had not intended to become the spokesperson against the biggest cryptocurrency. During the interview, when asked if Bitcoin is better than marijuana stocks, Dimon noted “that it is, but we’re not …

JP Morgan-backed digital services firm Smartrac has partnered with SUKU Ecosystem, a blockchain startup headed by former Deloitte exec Eric Piscini, according to a tweet on Tuesday, Jan. 22. SUKU, which is parented by blockchain firm Citizens Reserve, will provide its platform to integrate with Smartrac’s supply chain. Smartrac is a radio-frequency identification (RFID) inlay manufacturer based in the Netherlands. Citizens Reserve reportedly released the alpha version of SUKU last autumn. SUKU is a supply chain as a service platform based on blockchain technology. Piscini, CEO at Citizens Reserve, said that the new partnership aims to resolve major problems related …

Analysts from global investment bank JPMorgan Chase believe that the protracted crypto bear market is driving away institutional investors, Bloomberg reports on Tuesday, Dec. 18. Analysts from JPMorgan, along with global market strategist Nikolaos Panigirtzoglou, have reportedly stated that involvement of institutional investors in Bitcoin (BTC) “appears to be fading.” In a jointly released research note, analysts have concluded that “key flow metrics have downshifted dramatically,” including a decline in the Bitcoin futures market. The experts reportedly noted the decreasing index of open interest (OI) — the amount of open contracts on Bitcoin futures — on the Chicago Board Options …

Bilbao, the largest city in northern Spain, has launched a €150,000 (around $171,000) tender to develop a blockchain for public services, Bilbao’s municipal authorities announced Monday, Nov. 12. Officials of the largest city in Basque country want to create a decentralized platform, designed to allow one to act with “power of attorney” online. The deadline to apply for the tender is set on Nov. 23. A company that will be awarded the contract has to develop the blockchain network within six months. According to the technical description of the tender, the winning company should build a network similar to EJIE …

Forex exchange (FX) settlement giant CLS will launch its IBM blockchain-powered netting service within “a matter of days,” according to Chief Strategy Officer (CSO) Alan Manquard. The CSO made the announcement at the IBM Think Tank conference in London Nov. 14, as reported by tech news source Computer Business Review (CBR). CLS Group, which reportedly settles on average $5 trillion in payment instructions daily, is a U.S. FX settlement service supplier with high-profile members that include Goldman Sachs, JPMorgan, Barclays, and Citigroup. A netting service entails offsetting and determining the value of multiple positions or payments that are due to …

Investment bank and financial services firm J.P. Morgan Chase has identified three public companies whose stock it believes will benefit from their applications of blockchain technology, CNBC reported Nov. 8. In a note to clients, J.P. Morgan reportedly forecast that IT companies will deploy blockchain in the same way that many firms claim to benefit from machine learning and artificial intelligence (AI). As Cointelegraph reported yesterday, some companies have started to drop using the term “blockchain,” as they believe the word is overhyped and too often used as a marketing ploy. However, J.P. Morgan outlined three companies that will purportedly …

This week, two major news within the precious metals industry broke. First, the world’s largest diamond company, Russia’s Alrosa, joined a blockchain project aimed at increasing transparency. Secondly, the world’s largest bank, JPMorgan, reportedly started to use its blockchain to tokenize gold. Indeed, blockchain has been pioneering both gold and diamond industries — complex ecosystems that heavily rely on supply chains, where cargo passes through dozens of geographical locations before arriving at its destination. The technology has helped to avoid corruption and improve quality by tracking valuable assets at every milestone of their journey, from mine to retailer. Blockchain can …

On the eve of the 10th anniversary of the Bitcoin (BTC) white paper, Oct. 30, JPMorgan CEO Jamie Dimon found himself speaking yet again about the leading cryptocurrency, notwithstanding his track record of attempts to extricate himself from the debate. As CNBC reported Oct. 31, Dimon made his “reluctant” comments at the Axios conference in Los Angeles on Tuesday. Referring to his now-notorious statement that Nakamoto's invention is little more than a “fraud,” the CEO told the audience: “I never changed what I said, I just regret having said it. I didn’t want to be the spokesman against Bitcoin. I …

Global management consultancy firm Accenture revealed a new blockchain tool in a press release Oct. 22, its second in a month focusing on interoperability. A week after announcing a supply chain partnership with Thailand’s Siam Commercial Bank, Accenture said its latest offering facilitated existing enterprise blockchain systems to integrate with one another. Specifically, blockchain platform Digital Asset can now work in tandem with R3’s Corda platform, while Hyperledger Fabric and JPMorgan’s Quorum form another interoperable pair. Discussing the two separate solutions, which the company has already tested, managing director and Global Blockchain Lead David Treat described them as a “game …

Former JPMorgan executive Blythe Masters predicts “tens if not hundreds” of blockchain projects will soon increase the efficiency of commodity markets, Bloomberg reports Tuesday, Oct. 9. Masters, who since leaving the investment banking giant has become CEO of her own software outfit Digital Asset Holdings, said commodity supply chains would greatly benefit from the advent of distributed ledger technology. “Supply chains are notoriously complex and inefficient,” she told attendees of the invite-only London Metal Exchange (LME) annual dinner, quoted by Bloomberg. As Cointelegraph has reported, the supply chain aspect of various global industries from shipping to agriculture has formed a …

A study into JPMorgan’s digital transformation initiatives has revealed that blockchain is a key technology for the bank’s roadmap, according to a press release published by ResearchAndMarkets.com (RM) October 3. RM has analyzed JPMorgan’s enterprise-wide strategies to secure its “competitive edge” against rival banks, non-financial firms, and fintech startups. The bank has reportedly earmarked $10.8 billion for technology spending in 2018, $5 billion of which will go towards fintech investments. The study covers JPMorgan’s digital transformation roadmap, with blockchain listed as the first in a range of bleeding-edge technologies that are being pursued by the bank — including big data, …

JPMorgan has expanded its blockchain payment platform to over 75 multinational banks. The goal of the participants’ combined efforts is to fight off competition from outside of the banking sector, Financial Times reports September 25. Speaking to the publication, analyst Jason Goldberg said the Interbank Information Network (IIN), under development since October 2017 on JPMorgan’s own Quorum blockchain, was already seeing progress. Now, Societe Generale and Santander are among the major institutions looking to adopt the platform, which allows banks to share payment information and speed up problematic transactions. By resolving problems through transparency of reliable information, banks can compete …