Blockchain and Cryptocurrency: People, Culture and Tech
The reason given by the bank for the launch of the new products is simple: high market demand. “We have been observing the digital assets market for quite some time and are convinced of the potential of blockchain technology with regard to classic securities transactions,” said a spokesperson.
Given its advantages in global payments—including the decentralized design, lack of foreign exchange exposure, the ability to make money far faster and cheaper than current systems, and that it offers secure payment channels and traceability—the report concludes that “Bitcoin's global reach and neutrality could spur it to become the currency of choice for international trade.”
“I think our aspirations are so small. Making Bitcoin institutional? I could give two fucks if JPMorgan cares about Bitcoin. It does nothing for me as a person, and it makes me sad that so many people have made institutional adoption a goal," Demirors said.
Data showed that 78% of male survey respondents reported being aware of Bitcoin, compared to 71% of females. While that’s surprisingly good, given crypto’s reputation for being male-dominated, the numbers were far worse when it came to actual involvement in the cryptocurrency world. When limiting the sample to respondents who called themselves engaged with Bitcoin, the company found the numbers were 86% male to 14% female.
