“I think Jamie Dimon is doing exactly what Jamie Dimon is supposed to do. He is the CEO of one of the largest banks in the world...and this (blockchain and crypto) as an industry is a potential threat to his business...and as a fiduciary it’s his job to do what he is doing and I think he is doing a very good job of it.”
The renowned American entrepreneur went on to say that comments like this make him want to ‘go out and buy more’:
“When the incumbent industry is making statements like this and acknowledging you...it’s a sign that what we’re doing is working...it’s a huge validation...”
He also added that some of the best talents in JPMorgan are now leaving in ‘droves’, giving the example of Blythe Masters, who left JPMorgan despite being on track to be the next CEO, to join Digital Asset Holdings, which is fundamentally a blockchain company.
According to Brock, JPMorgan and Jamie Dimon are experiencing the disruptive nature of the blockchain industry more than anyone.
Brock also shared his views on how existing businesses need to innovate in order to survive in the future, hinting at the adoption of blockchain technology:
“In a world where innovation and progress is moving so rapidly, it’s innovate or die...”
This is a sentiment voiced recently by the International Monetary Fund’s Managing Director, Christine Lagarde, who also observed the disruptive potential of blockchain-based cryptocurrencies.
Speaking about the state of the crypto market, Brock discouraged using price as a measure of growth.
“Don’t look at price ever as a way of understanding what’s happening in the industry...price is the primary barometer of sentiments in a market that’s very emotional.
Throughout the last 6 years it’s been nothing but steady, incredible progress.”
He also added that the industry is in a stage where the user base can easily double every year till a tipping point will be reached, after which we will witness exponential growth.