Correspondent Blog

Set aside the noise of cryptocurrency for a second and focus on the potential of a new digital asset, or crypto, wallet. The crypto wallet can be the centerpiece of customer engagement for Web 3.0 and can be used for a myriad of new applications. The bigger picture here that banks should consider is that…

Last week, JP Morgan opened banking’s first presence in the metaverse within the blockchain-based virtual world of Decentraland (go HERE for a primer). The “Onyx Lounge,” named after the Bank’s blockchain product, comes complete with a roaming tiger greeting visitors and an ironic portrait of CEO Jamie Dimon, who has been a crypto naysayer. Now,…

Scoff at the NFT’s all you want, but they are your bank’s future. Not every bank, just those that will survive. All the crypto ads during the Super Bowl are another sign of this. Sure, in part, it’s a hype-driven Pets.com moment. However, like the changes that took place around Web 1.0, Web 3.0 is…

In Part 1 (HERE), we gave bankers an overview of decentralized finance and the increasing use of smart contracts in banking. Our tortured analogy was based on how children are similar to using smart contracts as they are a store of value and a message all in one bundle of joy that can move independently…