JPMorgan CEO Damon: JPMorgan may be one of the biggest users of memory blockchain technology

JPMorgan CEO Jamie Damon stated in an interview at the Financial Markets Quality Conference on Tuesday that JPMorgan may be one of the largest users of blockchain technology.

We may be one of the largest users of memory blockchain, and actual users are like real users, "Damon said when asked about innovative technologies such as memory blockchain and artificial intelligence." It's just a database

However, Damon, who has long been skeptical of cryptocurrency, has not changed his view on what he calls the "worthless" industry. In fact, the 68 year old banker once again used his favorite joke: "Cryptocurrency... I call it Pet Rock." (Note: Damon once compared Bitcoin to Pet Rock)

Nevertheless, Damon seems to have a reluctant respect for the underlying technology of cryptocurrency, pointing out that memory blockchain is a "good way to share data" and establish trust between banks and their customers.

JPMorgan Chase created its private permissioned network Onyx based on the Ethereum fork in 2020, which is designed specifically for wholesale payment transactions, peer-to-peer lending, and cross-border payments. The Onyx network has processed over $700 billion in transactions, with users including companies such as Goldman Sachs, DBS Bank, and BNP Paribas.

Damon also said on Tuesday, "We've been talking about memory blockchain for 12 years and not much has happened - it's not like AI." In addition, although Damon stated that JPMorgan is unlikely to lend to cryptocurrency, he is quite certain that customers can access some cryptocurrency services through the bank.

Damon said, "If you want to do this... this is a free country. I believe that in a free country, you can do whatever you want

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