Web3 is not only informing entire verticals and industries but automating the core technology stack of enterprises, including those once deemed as the disruptors.
Blockchain skepticism has turned to curiosity. Those who’ve been at the frontlines dismissing blockchain technology, longing for viable use cases, now accept they’ve been wrong. One of them is Nigel Morris, the managing partner at fintech firm QED Investors and Capital One cofounder. In a recent blog post, Morris admits he’s been a crypto skeptic and that “this time two years ago, I didn’t understand it. I didn’t grasp the use cases for it and I truthfully never knew whether it would gather global adoption. I was wrong.” He leans in further, saying, “We believe that all of our portfolio companies will have to affirmatively develop a view on crypto and Web3 for both defensive and offensive reasons in short order.”
In a letter to shareholders, JPMorgan CEO Jamie Dimon praised blockchain technology and DeFi, a striking contrast to his previous crypto statements. Dimon now believes there are “many uses where a blockchain can replace or improve contracts, data ownership and other enhancements.”
Barclays Corporate & Investment Bank’s Ramsey El-Assal said at its March summit meeting: “We see blockchain technology’s potential as being on a similar scale to the transformative, decades-long IT shifts from mainframes to PCs to the web to mobile. We further believe the move from “centralized” to “decentralized” technology will be the dominant theme in FinTech for the next couple of decades.”
Continue reading: https://venturebeat.com/2022/06/04/how-the-web3-stack-will-automate-the-enterprise/
Blockchain skepticism has turned to curiosity. Those who’ve been at the frontlines dismissing blockchain technology, longing for viable use cases, now accept they’ve been wrong. One of them is Nigel Morris, the managing partner at fintech firm QED Investors and Capital One cofounder. In a recent blog post, Morris admits he’s been a crypto skeptic and that “this time two years ago, I didn’t understand it. I didn’t grasp the use cases for it and I truthfully never knew whether it would gather global adoption. I was wrong.” He leans in further, saying, “We believe that all of our portfolio companies will have to affirmatively develop a view on crypto and Web3 for both defensive and offensive reasons in short order.”
In a letter to shareholders, JPMorgan CEO Jamie Dimon praised blockchain technology and DeFi, a striking contrast to his previous crypto statements. Dimon now believes there are “many uses where a blockchain can replace or improve contracts, data ownership and other enhancements.”
Barclays Corporate & Investment Bank’s Ramsey El-Assal said at its March summit meeting: “We see blockchain technology’s potential as being on a similar scale to the transformative, decades-long IT shifts from mainframes to PCs to the web to mobile. We further believe the move from “centralized” to “decentralized” technology will be the dominant theme in FinTech for the next couple of decades.”
Continue reading: https://venturebeat.com/2022/06/04/how-the-web3-stack-will-automate-the-enterprise/
