THELOGICALINDIAN - 2024s best able woman in cyberbanking Cathy Bessant is absolutely bearish on distributedledger technology admitting the actuality that the aggregation for which she is the tech and operations arch Bank of America BofA has the best blockchain patents in the banking casework industry
Bank of America may be stockpiling blockchain patents like it’s nobody’s business, but Bessant apparently believes the technology may not bulk to anything. She declared in an interview:
Show Me The Use Case!
Bessant’s self-proclaimed bearishness stems from her acceptance that the technology fabricated acclaimed by Bitcoin (BTC) doesn’t accept a applicable use case — not alike one. She stated:
Bessant’s admiration to accomplish BofA bigger is allegedly aggregate by others in the banking casework giant, as the aggregation has reportedly activated for or accustomed 82 blockchain-related patents. As acclaimed by CNBC, no added banking close in the industry can battling that accrue of patents — a actuality accepted by bookish acreage law close EnvisionIP.
JP Morgan, which afresh appear its own centralized cryptocurrency, JPM Coin, alone has six such applications.
Who Will Use JPM Coin?
Regarding JPM Coin, itself, Bessant is appropriately skeptical, stating:
Considering BofA has such a advantageous accrue of blockchain-related patens for the account of ‘future-proofing,’ it is accessible that Bessant is allotment her words anxiously to put off abeyant competitors from abutting the blockchain race.
What do you anticipate of Cathy Bessant’s declared claimed opinions on blockchain technology’s usability? Is she aloof posturing? Let us apperceive your thoughts in the comments below!
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