Jamie Dimon seems to understand the threat cryptocurrecies pose to the stranglehold central banking has on controlling money. But it looks more to me like this is central banking's Blockbuster Video moment where the leaders in the industry are so entrenched in their old ways they can't see the change happening all around them. When Blockbuster realized Netflix was crushing the rental market it was too little too late. I'd wager the same thing is going to happen to the bankers once cryptos reach the tipping point.
RE: Should J.P.Morgan Change Their Logo?
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Should J.P.Morgan Change Their Logo?
Problem is that banks have a quasi-monopoly over the money supply, protected by government. It's certain that they won't go down with a fight and I expect that governments around the world will put in more effort to ban/regulate/discourage the use of cryptocurrency.
A good example is the Dutch government which is experimenting with integrating blockchain technology in their administrative processes (and taxing crypto along with it). You can read about that in one of my recent posts: Governments co-opting crypto is bad news for Liberty-Minded people - Looking at Dutch gov. blockchain experiments
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Oh no doubt about it. I imagine when the banks realize the gravity of the situation the gloves will come off and they'll do everything in their power to try and stop crypto.
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