Zero Hedge: “JP Morgan Just Launched The Largest Ever Real-World Blockchain Application”By admin_45 in IN THE NEWS
Excerpt from Zero Hedge's reprint of a DataTrek report: .... "JP Morgan just launched the largest ever real-world blockchain application, developed to facilitate corporate cross-border payments. In that surprising development lies several lessons for public equity investors of financial services companies. The classic paradigm of disruptive innovation assumes incumbent companies remain quiescent as new tech-enabled competition starts to nibble away at the low end of a market. This is not an assumption of corporate laziness. Rather, it makes sense that established businesses would actually not mind losing low-margin, low average revenue/unit customers. “Let the upstart take them… our return on capital actually improves when we shed that segment of the market!” Well, Amazon’s success over the last decade has changed that mentality to some degree within even the largest companies. No one wants to be Barnes & Noble. Or Wal-Mart, for that matter. But altering large company behavior remains difficult, so it is still unusual to see a brand-name multinational really thinking – and acting – outside the box"..... Read the whole piece here on Zero Hedge!