Some influential names in finance, Dimon among them, have been concerned that concentrating all transactions into the single database of the blockchain makes cryptocurrency vulnerable to hacking and fraud.
Speaking to Fox business, Dimon now says "The blockchain is real". The initial coin offerings ICOs need to be reviewed "individually", he said. Bitcoin is the world's first open source decentralized digital currency and payment network.
Yet, one bitcoin bull remains optimistic about the cryptocurrency in 2018, saying that its price level could "easily double" this year.
But Dimon wasn't all cheer about Bitcoin, and also added he worries about how "governments are going to feel about bitcoin when it gets really big".
Forbes reported on advancements of South Korean startups in a Jan. 3 report and highlighted Medibloc as a startup to watch.
AFP 2017 John MACDOUGALLIn For a Penny In For a Gram Telegram Poised to Launch Native Cryptocurrency
During the interview, Dimon said that he had abandoned the skepticism he had expressed previously. However, it is still more than the joint market caps of ethereum and ripple, of $132 billion and $70 billion, respectively. The blockchain technology could disrupt the industry. "And both are dangerous". This week, the American CEO conceded not that he was wrong - but that he was too outspoken.
Even Kodak has announced its plan to install the bitcoin mining rigs at its headquarters in Rochester, New York besides its plan to roll out its own version of bitcoin called KODAKcoin.
"On a long-term basis, [the easiest way to look at bitcoin is] as a replacement or a store of value". "It's going to have a huge cumulative effect".
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