CEO da unidade Blockchain do JPMorgan pede proteção ao consumidor em projetos de ativos digitais
- 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. fez parceria com DBS Bank e SBI Digital Asset Holdings para realizar transações in tokenized foreign exchange and government bonds under Singapore’s Project Guardian.
- Farooq também observou que muitos aspectos da tecnologia blockchain têm a capacidade de melhorar a infraestrutura financeira atual e tornar os serviços financeiros mais eficientes, acessíveis e baratos.
O JPMorgan Chase & Co., um dos maiores bancos multinacionais de investimento e empresas de serviços financeiros, fez outro empreendimento na indústria de blockchain depois de fazer parceria com o DBS Bank e a SBI Digital Asset Holdings para realizar transações em moeda estrangeira tokenizada e títulos do governo sob o Project Guardian, conforme relatado anteriormente pela Bitnation.
Em entrevista com 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 acredita que, sem implementar as etapas de proteção ao consumidor, as empresas envolvidas no experimento blockchain podem expor os clientes a riscos de segurança cibernética. Essa declaração chega em um momento em que várias empresas de criptomoedas foram hackeadas, exploradas e drenadas no mês passado, tornando-o o pior mês para a indústria de criptomoedas em termos de segurança em 2022.
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 perdeu $28 milhões em um hack de carteira quente este mês.
“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.