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The CEO of JPMorgan called blockchain a competitor to banks!!! According to him, JPMorgan is tracking the development of over a hundred companies in the segments of payments, digital banking, investments, and market making. He highlighted Block, Citadel Securities, Revolut, and Stripe as examples, noting that many of them started with one product and then quickly scaled their business.
He also emphasized the need for the active implementation of artificial intelligence technologies in the bank's business processes, including cash operations, capital raising, and investment management.
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