JPMorgan’s BlockChase: Dallying On Blockchain And Web 3

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JPMorgan has always been on a quest to embrace disruptive trends as the traditional banking industry gets challenged with emerging technologies and evolving business models. Despite being an incumbent bank, the financial goliath has never shied away from diversification and experimenting with modern technology as is evident from their innovation and investment strategy. In 2015, the Wall Street Bank made its first attempt to foray into the blockchain industry, when it partnered with eight other banks including Barclays and BBVA to form a consortium led by R3. In our previous post, we explored the Goliath’s Resurgence by taking a look at its FinTech playbook. In this post, we add a crypto twist to this playbook by seeking the goliath’s tryst with the crypto phenomenon across the themes of blockchain, cryptocurrencies, NFTs, and the metaverse. 2015-2019: Betwixt and Between The Crypto CrazeJPMorgan’s association with blockchain can be traced back to Feb 2016 – when the bank began a trial test of the technology similar to one that underlies bitcoin – by tapping into Digital Asset Holdings. The following year, they launched their own blockchain, Quorum, hoping to explore potential ways the DLT might help accelerate the rate it transacts business. However, […]

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