“We are going to have some kind of digital currency at some point,” Dimon said. “I’m not against crypto. You know, bitcoin itself has no intrinsic value. It’s used heavily by sex traffickers, money launderers, ransomware.””The use of blockchains for money, moving money, moving data, we already use it,” he said. “Stablecoins are real. How they’re used and how they’re protected by regulators is an issue they have to deal with.”

A blockchain is a digital database that stores “blocks” of data in chronological order, and those blocks are linked together on a “chain.”In the past, Dimon has said cryptocurrencies are as useful as “pet rocks,” stating bitcoin is fraudulent like a Ponzi scheme. Share