JP Morgan’s role in the world of cryptocurrency has always been mired in controversy.
Jamie Dimon, the investment bank’s chief executive officer, has commented on bitcoin several times over the past couple of years, notably calling the cryptocurrency “a scam” in 2017 – something that has continued to bring a strange, joyful rage to the digital assets press ever since.
But despite what Dimon thinks, and it’s not really clear what he does think at this point, JP Morgan appears to be eagerly embracing blockchain technology.
That’s according to a new report by Forbes columnist Michael del Castillo, who wrote on Friday that the American firm is the largest employer of blockchain experts in the financial services industry.
How to Trade In a Volatile MarketGo to article >>
Over the past twelve months, JP Morgan listed more blockchain-related roles than any other banking company. The data was gathered by Indeed.com – one of the largest job hunting websites in the world.
Not only that, but the investment bank was also one of the top ten blockchain employers over the past twelve months. Other firms in that top ten included consultancies, such as Deloitte and Accenture, and technology firms IBM and Cisco.
Bitcoin falls, job searches decline
Interestingly, the decline in the number of people searching for blockchain roles corresponded with the decrease – in percentage terms – of the price of bitcoin. According to Indeed, blockchain job listings dropped by 67 percent from February of 2018 to February of this year.
During the same period of time, the price of bitcoin decreased by approximately 63 percent.
JP Morgan’s apparent outsized role in the blockchain world likely stems from its efforts at launching JPM Coin. The coin, which was announced last month, is going to be used by the banking giant to make payments between clients.