MIT Technology Review February 6, 2024
Deploying blockchain technology can bolster innovation and create a more secure way to bank, according to Suresh Shetty, the CTO at Onyx by J.P.Morgan at JPMorgan Chase.
In 2015, JPMorgan Chase embarked on a journey to build a more secure and open wholesale banking. For chief technology officer at Onyx by J.P.Morgan, Suresh Shetty, investing in blockchain, a distributed ledger technology in its early days, was about ubiquity.
“We actually weighted ubiquity in terms of who can use the technology, who was trying to use the technology over technology superiority,” says Shetty. “Because eventually, our feeling was that the network effect, the community effect of ubiquity, actually overcomes any technology challenges that a person or a firm might have.”
Years...
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