JPMorgan Chase CEO Jamie Dimon highlights that blockchain and tokenization are moving into a practical, usable phase, with their core value driven by efficiency and cost reduction. The bank processes $16 trillion in transactions daily, leveraging systems for AML, risk control, and fraud prevention, which are both fast and low-cost.
- Blockchain technology is becoming more efficient as the industry develops faster and cheaper methods, applicable to both permissioned and permissionless networks.
- Smart contracts are very likely to evolve into real-world applications, enhancing automation and reliability.
- Tokenization is expected to follow a similar technological adoption path, driven by the need for streamlined and secure financial processes.
In a recent Fox News interview, JPMorgan Chase CEO Jamie Dimon mentioned that they can process $16 trillion in transactions per day, with all transactions going through AML, risk control, sanctions screening, and anti-fraud systems. These processes are both fast and low-cost, he emphasized, explaining why banks continue to adopt technology, and that tokenization will follow the same path.
He said that blockchain has been around for years, but it is becoming more efficient as the industry finds “faster and cheaper” ways to use it, whether it’s permissioned or permissionless blockchains. Smart contracts, in his view, “are very likely to become a real-world application.”
