Public blockchain ledgers ‘not fit for purpose,’ says JPMorgan exec
Despite the criticism, TradFi institutions still prefer using public blockchains for real-world asset tokenization.
Public blockchains are still not adequate for executing large amounts of transactions, according to a JPMorgan ex.
During the BIS Innovation Summit on May 7, Umar Farooq, CEO of JPMorgan’s Onyx blockchain-based payment platform, said:
The CEO’s comments came in response to the Unified Ledger, a concept introduced by the Bank of International Settlements (BIS) last year that aims to support central bank money flows, tokenized deposits and digital assets on its network.
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish