Former JPMorgan Chase CEO Masters talks about Bitcoin for the first time
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Recently, Blythe About blockchainDAH is exploring how to apply blockchain to financial markets. Regarding blockchain, Masters said:
To Masters, blockchain is an upgrade to the record-keeping system. She estimates that the technology could eliminate billions of dollars in costs caused by redundancies, delays and errors in the back-office processing systems that trade assets such as bonds and stocks. The key to cost savings lies in a shared infrastructure. Currently, each financial institution maintains its own independent transaction log, which is a duplication of time and energy, and once there are inconsistencies in the records, it will cost a lot of manpower and financial resources. Currently, it takes three days for a transaction to be settled. Masters believes regulators will like the traceability and transparency that blockchain technology provides: “An immutable audit trail.” About Bitcoin Masters, as a passionate advocate of the underlying technology of Bitcoin, "blockchain", seems to have never expressed her views on Bitcoin. In this interview, Masters expressed her views on Bitcoin for the first time. If you have heard JPMorgan Chase CEO She said:
Like Jamie Dimon, Masters believes that regulation is an insurmountable obstacle to the development of digital currencies.
About company goalsThe goal isn't to beat the existing system, Masters said, but to improve it. In addition to DAH, many blockchain solution companies have emerged, such as Chain, headquartered in San Francisco, which is working with Nasdaq to conduct blockchain trials. In addition to these blockchain startups, more and more traditional financial institutions are also exploring the application of blockchain in the financial field, such as the R3 blockchain alliance composed of 40 banks. Facing such competition, Masters remains confident. She said:
Original article: http://fortune.com/2016/02/18/blythe-masters-blockchain/ |
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