JPMorgan is looking for Bitcoin and Lightning Network expert

rise of bitcoin

According to reports from The Block, JPMorgan Chase is looking for a blockchain expert with knowledge of the technology behind Bitcoin . The position, Director of Blockchain, must be occupied by someone with knowledge of Bitcoin’s scalability solutions such as Lightning Network.

A spokesperson for JPMorgan Chase said the bank would not venture to Bitcoin:

It would be completely inaccurate to say or report that we may be investigating or considering working with bitcoin or other public cryptocurrencies. We are not doing that – I hope that is clear.

JPMorgan has its own private network called Quorum, and the Director of Blockchain will in all likelihood also work on the bank’s own network.

The bank is a staunch opponent of cryptocurrencies and has never put it under chairs or benches. CEO Jamie Dimon, for example, once expressed himself negatively by labeling bitcoin as fraudulent.

At the end of last month, Coindesk reported that JPMorgan Chase was reportedly working on an extension for Ethereum-based blockchains . The extension, which the bank is likely to release with an open source license, may also be used by the bank itself for a payment mechanism and for Quorom.

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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