CEO der Blockchain-Einheit von JPMorgan fordert Verbraucherschutz bei Digital-Asset-Projekten

• Umar Farooq, chief executive officer of JPMorgan’s blockchain unit Onyx, stated that banks have to take precautions and implement steps to ensure consumer protection.
• JPMorgan Chase & Co. ging eine Partnerschaft mit DBS Bank und SBI Digital Asset Holdings ein Transaktionen durchführen in tokenized foreign exchange and government bonds under Singapore’s Project Guardian.
• Farooq stellte auch fest, dass viele Aspekte der Blockchain-Technologie die Fähigkeit haben, die aktuelle Finanzinfrastruktur zu verbessern und Finanzdienstleistungen effizienter, zugänglicher und erschwinglicher zu machen.

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JPMorgan Chase & Co., eine der größten multinationalen Investmentbanken und Finanzdienstleistungsunternehmen, hat nach einer Partnerschaft mit der DBS Bank und SBI Digital Asset Holdings einen weiteren Schritt in die Blockchain-Branche gewagt Transaktionen durchführen in tokenisierten Devisen und Staatsanleihen im Rahmen von Project Guardian, wie zuvor von Bitnation berichtet.

Im Gespräch mit CNBC, Umar Farooq, chief executive officer of JPMorgan’s blockchain unit Onyx, stated that before implementing any experiment in the field of DeFi and blockchain, banks have to take precautions and implement steps to ensure consumer protection. However, he also noted that many aspects of the blockchain technology have the capacity to better the current financial infrastructure and also make financial services more efficient, accessible and affordable.

“What a bank needs to do from a regulatory point of view and customer’s point of view is that we need to protect our customers. We cannot lose their money,” Farooq said during a panel at the Singapore Fintech Festival 2022 on Wedneday.

Farooq ist der Ansicht, dass die am Blockchain-Experiment beteiligten Unternehmen Kunden ohne die Umsetzung der Verbraucherschutzmaßnahmen Cybersicherheitsrisiken aussetzen könnten. Diese Aussage kommt zu einer Zeit, in der im vergangenen Monat mehrere Kryptofirmen gehackt, ausgenutzt und ausgelaugt wurden, was ihn zum schlechtesten Monat für die Kryptoindustrie in Bezug auf die Sicherheit im Jahr 2022 macht.

According blockchain analytics firm Chainalysis, almost $3 billion have been drained in 2022 due to crypto hacks and more could be on the way. Some of the biggest crypto firms hacked include Mango Markets, BNB Chain’s BSC Token Hub, and many others. Moreover, within the first week of November, Panama-based crypto futures and options exchange Deribit verlor $28 Millionen bei einem heißen Wallet-Hack diesen Monat.

“I do think you need some sort of identity solution or know-your-customer solution which verifies who the human being that is interacting is and what they are allowed to do. Because without that, in the longer term, it just doesn’t work,” he added in an interview with CNBC.

Farooq also confirmed that JPMorgan is currently using a solution called verifiable credentials which reside in the users’ crypto wallets and when any customer will use the new service to trade, their transactions will be secured via these credentials. Interestingly, Farooq also pointed out that the privacy feature of blockchains won’t hold for a long time as “sooner or later they will be in a money laundering incident.”

The CEO of JPMorgan’s blockchain arm believes that “education, protection and identity need to be in place” in order to safely send payments across borders without bringing the attention of the regulatory hammer.

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